Importance of Cyber Security Risk Management in E-commerce Companies

Running head: CYBER SECURITY CONCERN OF E-COMMERCE COMPANY
CYBER SECURITY CONCERN
OF
E-COMMERCE COMPANY
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Author Note:

Cyber Security1
Introduction:
The primary objective if this paper is to elaborate the importance of security
management system, its utilization as well as the risk management in an organization like
PayPal. Followed by the aspects PayPal is an organization which operates the system of
online payment. Hence, it has been noticed that in the operations of this organization there is
a significant important of IT risk management, security management as well as the
Information Technology governance (Trautman 2015). Since, the organization process is
based on information technology system it is very essential to maintain high security for their
money transactions this paper will elaborate the above mentioned aspects.
Cyber Security Risk Management:
ISO/IEC 27000, ISO/IEC 27001, ISO/IEC 27002-
ISO/IEC 27001 is a security standard which has been introduced to protect the
organizational information. Due to the adoption of the mentioned standard an organization
will adopt the capabilities of protecting their critical data from cyber criminals, it will help to
reduce the chances of data breach. Thus, it can be stated that the organization with ISO/IEC
27001 standards are capable of gaining customer trust and show best security practices to
their data (Evans 2016). Followed by the above security standards the ISO/IEC 27000
standard holds the capability to control the security standards of ISO/IEC 27001 with the
purpose to maximize the benefits due the above mentioned security regulation. Along with
the capabilities of the ISO/IEC 27000 and ISO/IEC 27001, the ISO/IEC 27002 has the
responsibility to effectively gather a proper guideline for the organization which will help the
organization to implement as well as to improve the IT security management of an
organization (Janakiraman & Narayanan 2019). Hence, from the above discussion it has been
noticed that ISO/IEC 27000 and ISO/IEC 27000 offers the regulations for cyber security and