Cyber Security Issues in E-commerce: A Retail Industry Study

This report provides an in-depth analysis of cyber security issues within the e-commerce sector, with a specific focus on the retail industry. It begins with an executive summary and table of contents, followed by an introduction that defines cyber security and e-commerce, highlighting the significance of securing online transactions. The report then delves into a literature review, examining the impact of cyber security incidents on the retail industry, challenges faced as a result of cyber attacks, and strategies for minimizing future attacks. The methodology section outlines the research approach, followed by a design and implementation chapter, which likely presents data analysis and findings. Results and analysis are presented, interpreting key findings from the research. Finally, the report concludes with recommendations and reflections, offering insights into the importance of cyber security for businesses and strategies to enhance protection against cyber threats. The report aims to analyze the significance of cyber security in business, specifically within the retail industry, addressing impacts, challenges, and mitigation strategies.

Study of cyber security issues
for e-commerce
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Executive Summary
Cyber attack is defined as deliberate and malicious attempt that is being carried out by
individual for breaching information system. This is carried out to have certain kind of
advantages. In order to protect systems form cyber attacks, the concept of cyber security is
utilised. The practice that is accountable for defending servers, electronic systems, data,
networks and mobile devices from certain malicious attacks is known as cyber security. This
term is used in different context in order to ensure that information which is shared among
different personals is secured. E-commerce refers to business model that enables individuals as
well as firms for buying and selling over internet. This is carried out in four different market
segments that are business to consumer, business to business, consumer to business and
consumer to consumer. While delivering services as an e-commerce service provider, it is
important that they monitor all the transactions that are conducted within their network, encrypt
them, have relevant software for detecting any attack and other aspects. This will aid latter
within making sure that they are able to work in secured manner. In context of user, they also
need to have anti-spyware, firewall and anti-virus through which if they access any infected e-
commerce website then this will be blocked. Furthermore, the domain name must be cross
verified and services from authenticated e-commerce providers must be taken. This is done to
ensure that basic and mandatory steps are taken into consideration by both the entities for having
secured transactions. Thus, opts for the concept of cyber security.
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Table of Contents
Executive Summary.........................................................................................................................2
Topic: “Study of Cyber Security issues for e-commerce”...............................................................3
Chapter 1..........................................................................................................................................3
Introduction......................................................................................................................................3
1.1 Overview of research........................................................................................................3
1.2 Background of the research..............................................................................................3
1.3 Research aim....................................................................................................................3
Research Objectives...............................................................................................................4
1.4 Contribution of your research...........................................................................................4
1.5 Structure of the report.......................................................................................................4
1.6 Summary....................................................................................................................................5
Chapter 2..........................................................................................................................................6
Literature Review.............................................................................................................................6
2.1 To determine the impact of cyber security incidents to retail industry............................6
2.2 To ascertain challenges encountered by Retail industry as a result of cyber security attack.
................................................................................................................................................7
2.3 To formulate strategies for minimising the probability of occurrence of future cyber
attacks on Retail industry.......................................................................................................8
2.4 Summary..................................................................................................................................12
Chapter 3........................................................................................................................................13
Research Methodology..................................................................................................................13
3.1 Methodology Utilised..............................................................................................................13
3.2 Summary..................................................................................................................................17
Chapter 4........................................................................................................................................18
Design and Implementation...........................................................................................................18
4.1 Methodology............................................................................................................................18
4.2 Summary..................................................................................................................................24
Chapter 5........................................................................................................................................26
Result and Analysis........................................................................................................................26
5.1 Introduction..............................................................................................................................26
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5.2 Interpretation.............................................................................................................................26
5.3 Summary..................................................................................................................................43
Chapter 6:.......................................................................................................................................44
Conclusion, recommendation and reflection.................................................................................44
6.1 Conclusion......................................................................................................................44
6.2 Reflection.......................................................................................................................45
6.3 Recommendation............................................................................................................46
References......................................................................................................................................47
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Topic: “Study of Cyber Security issues for e-commerce”
Chapter 1
Introduction
1.1 Overview of research
Cyber security is defined as body of practices, technologies and processes for protecting
devices, programs, networks and data from any kind of damage, attack or unauthorised access. It
implies practice to defend servers, electronic systems, mobile devices, etc. from malicious
attacks. As per the statistics, it has been identified various cyber attacks have been carried out in
2020 across United Kingdom which have created adverse impact on overall operations of firm
(Al-Sartawi, A.M.M. and Razzaque, A., 2020). This means that cyber security is crucial for firm
and different trends in terms of attacks that are being carried out needs to be analysed. It will
enable to formulate strategies that will further lead to prevent cyber attacks.
E-commerce is defined as process that is involved within buying along with selling of
services and goods, transmission of funds primarily by making use of internet. This is online
retail shopping that is carried out by customers through usage of websites, mobile apps, chats
and many other. This enables to have ample of benefits like easy& faster buying process, cost
minimisation, flexibility, several modes of payment, no limitations on reach, comparison
between prices and many others. While carrying out e-commerce, it is important to ensure that
cyber security concept is taken into account so that secured transmissions can be carried out in an
effectual manner.
1.2 Background of the research
Cyber security is defined as protecting internet-connected systems like software,
hardware and information from cyber-threats. The practice is utilised via enterprises and
individuals for protection of unauthorised access for data centres along with computerised
systems. The rationale behind execution of cyber security is to render enhanced security posture
for networks, servers, mobile devices, data and computers from attackers who have one or other
malicious intent. Cyber attacks are formulated to render enhanced access, deletion or extortion of
sensitive information and make cyber security vital (Blum, 2020). The study is conducted to
identify impact and a different strategy to ensure that organisation along with individuals whose
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information is stored is protected. Across UK, it has been found that near around 36.6 million
records have been breached which is a large number (List of data breaches and cyber attacks in
August 2020 – 36.6 million records breached, 2020). This makes it more important that
individuals along with firms like Retail industry takes essential steps through which the overall
pessimistic impact cannot be eradicated.
1.3 Research aim
“To analyse the significance of cyber security in business.” A case study on Retail
industry.
Research Objectives
 To determine the impact of cyber security incidents to retail industry.
 To ascertain challenges encountered by e-commerce as a result of cyber security attack.
 To formulate strategies for minimising the probability of occurrence of future cyber
attacks for ecommerce sites.
1.4 Contribution of your research
In this study the impacts will be analysed which are created due to cyber attacks within
the retail industry. The emphasis will be made on the challenges that are being faced by e-
commerce after the attack has occurred and what all the reasons behind its occurrence.
Furthermore, certain strategies will be developed for eradication of the future probabilities. It
becomes difficult to identify that attack will occur but by continuously remaining updated with
the technologies and methodologies used firm can ensure up to certain extent that systems are
secured.
1.5 Structure of the report
This is critical section of research that assists readers to classify information associated
with chapters that will be covered within the study is defined as route map. The different
chapters will be used for having a conclusion and their overview is illustrated beneath:
Chapter 1: Introduction: This chapter will furnish basics about the topic that will be
covered in the dissertation. It comprises of the basis along with adequate information associated
with the topic that is considered. The reader will be able to have data related with background,
aims, objectives and contributions that are being made within the topic.
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Chapter 2: Literature Review: This denotes second chapter that is dependent on study
carried out via authors. In this section of dissertation, various books, research papers, journals
articles, magazines and online mediums will be used for accessing adequate information. This
aids reader to identify the work that has been done by others as well as their point of view. Here,
emphasis will be laid on cyber security aspects and the different ways which have been carried
out along with their mitigation. Through this, the literature gap which prevails can be identified
in an adequate manner.
Chapter 3: Research Methodology: This chapter will provide details related with
methods that are used for carrying out research. It comprises of secondary and primary method to
gather data. Furthermore, philosophies, qualitative or quantitative and many other aspects
associated with research will be illustrated. This all will be illustrated in the context of cyber
security. It is a crucial method through which researcher can have support for working with
peculiar topic.
Chapter 4: Design and implementation: This involves interpretation of data associated
with the topic. The frequency table will be developed that will aid researcher to identify agreed
along with unagreed respondents with reference to cyber security concepts. Furthermore,
various graphs and tables will be used for carrying out analysis of data that is being attained.
Through this, adequate outcome can be attained by taking into consideration different
perspectives and conditions which might take place due to safety concerns.
Chapter 5: Result and analysis: The fifth activity will render assistance to investigator
for identification of primary as well as secondary information. Here, literature review will be
used to examine secondary information that is related with the topic. Furthermore, questionnaire
will be used for having primary data with reference to significance of cyber security along with
benefits that can be attained through its usage.
Chapter 6: Conclusion, recommendation and reflection: This denotes last chapter
which is accountable for furnishing support to readers with respect to what is done and results
that will be acknowledged by conducting research. This chapter illustrates research findings
along with analysis up to certain extent. Along with this, some recommendations will be
furnished for organisation that will aid them to protect from any kind of cyber attacks in future.
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1.6 Summary
This chapter provides insight into introduction to cyber security. This chapter furnish
overview of the research topic along with aim and objectives that will be used for attaining
desired results. Furthermore, the outlines of other chapters that will be discussed within the entire
dissertation are also specified. The next chapter will provide literature review which means that
work done by different researchers will be studied in order to identify the gap so that researcher
can carry out their operations accordingly. The researcher will have adequate knowledge with
reference to has been done and what else can be done with reference to cyber security
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Chapter 2
Literature Review
The summary that has been published within specific area is referred to as literature
review. This is accountable for development of landscape for readers that will render absolute
understanding in context of improvements that have been carried out. The landscape renders
learner with relevant knowledge that is gathered from previous work conducted by authors
within peculiar field. Rationale behind opting for literature review is to assimilate wide range of
information so that insight can be attained and accordingly work can be conducted (Byrne,
2020). Different sources are being used for accumulation of information like articles, internet,
books, magazines, etc. This will lead them to deliver peculiar data and have optimistic results of
research. Basically, literature review is a systematic process which is being applied by
investigator for accomplishment of in-depth data related with current topic. In addition to this,
the gap that prevails in previous studies is conducted and through their identification, the further
work investigator needs to carry out will be identified. Within this section of dissertation, each
objective that is developed will be analysed in organised manner.
2.1 To determine the impact of cyber security incidents to retail industry
According to Hepfer and Powell (2020), cyber security implies process or state to protect
as well as recover programs, networks and devices from certain kind of cyber attacks. They
evolve danger to consumers, organisation and employees and are being designed for assessing or
destroying sensitive information as well as it might be for extortion of money. This further leads
to create a pessimistic impact on businesses along with this personal lives of individuals will also
be hampered like identity theft. The crime that is related with attaining financial or personal
information about other individuals to utilise their identity for carrying out frauds like having
unauthorised purchases or transaction is referred to as identity theft (Hepfer and Powell, 2020) .
The end result that will be attained via this is that there will be a definite damage on finances,
reputation and credits.
The strong cyber security system comprises of different layers in order to protect spread
of attacks. But this entirely does not depend on cyber defense technologies. It also depends on
the critical and analytical abilities that are being possessed by individuals. With evolution of
technology organisations are moving forward to digitalisation within their processes which acts
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as a reason behind occurrence of the attacks. This can be understood by taking an instance like
employees might not be technically sound which means that without appropriate knowledge they
might click on the links which they should not. It may lead to unidentified attacks and even after
doing so there is high probability that firm might not be able to know that are attacked. The
rationales behind going for technological shift is that the processes which employees have to
carry out manually will be conducted are automated and overall performance will be amplified.
But this makes them prone to wide range of attacks that involves, phishing, identity theft, virus,
malwares, Trojan horse and many others which creates the pessimistic impact on firm in context
of their performance, confidential information and their overall brand image.
The various attacks have been carried out in 2020, as due to the pandemic situation across
the country most of the firms have shifted for work from home which means that maximum of
the activities were carried out via online medium (List of data breaches and cyber attacks in
August 2020 – 36.6 million records breached, 2020). This makes organisation more vulnerable to
attacks.
2.2 To ascertain challenges encountered by Retail industry as a result of cyber security attack.
According to Lloyd (2020), the assault that is being launched via cybercriminals through
usage of one or more systems against a network is defined as cyber attack. It is liable for
maliciously disabling computers, use breached systems like a launch point for carrying out
attacks or steal data. Cybercriminals opt for different methods for conducting cyber attacks that
involves phishing, denial of service, malware, ransomware and many more. Wide range of
attacks are carried out in order to attain details about individuals.
An instance can be taken into consideration with reference to cyber security attack that is
carried out on Retail industry. In this case, Retail industry has issued warning related with scam
where vouchers of worth £500 are being offered. The phishing attack utilised official branding
for promotion of fake surveys that leads to harvest sensitive data like payment that comprises of
account number of victim's bank (Lloyd, 2020). Email that is being sent promises that individual
have chance to win gift cards that are worth £500. When victim clicks on continue for free then
the fake website will be opened where sensitive data like PIN card, security code and account
details will be asked. In case, if addressee does not give respond then the message is sent that
comprises of final message and other details like your email has exclusively selected. The scam
is carried out via Facebook pages for legitimacy of scheme with usage of fake user that links
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fake survey to page. The firm have responded that email campaign was not carried out by them
as well as voucher offer. It has been made clear that the voucher is not genuine and this will not
be accepted in stores. But before this various users have fallen into the trap set by the intruder for
having access to their personal and financial information.
2.3 To formulate strategies for minimising the probability of occurrence of future cyber attacks
on Retail industry.
As per Vozikis and et. al, (2020), it is identified that various firms are prone to cyber
attacks due to the reason that weak or poor measures are being taken up by them. Organisation
like Retail industry goes through various challenges within market and for dealing with them it is
necessary to handle plans as well as implement them for attaining security. For formulation of
strategies it becomes essential for Retail industry to acknowledge different factors which creates
pessimistic impact on the ways in which services are being delivered by them. For this analysis
is being conducted by usage of different frameworks, they are specified below:
SWOT Analysis:
The framework that is used for evaluation of competitive positioning of the organisation
as well as formulates strategic planning is defined as SWOT analysis. This will aid Retail
industry to conduct analysis of their strengths along with weakness. Furthermore, through this
firm can explore opportunities along with threats. With respect to Retail industry, SWOT
analysis is specified below:
Strengths:
 The profits of industry have increased with constant currency and this has also amplified
their reach (Abraham, Chatterjee and Sims, 2019).
 Retail industry is dependent on mouth of word promotions instead carrying out any kind
of advertising campaigns. This implies that they make more investments on their other
activities instead of having any kind of marketing approach.
 Retail industry has strong presence across the world and generally has opted for cost
leadership strategy for offering their customers with affordable prices.
Weaknesses: Because of restricted economic growth across EU, Retail industry is held back in context
of overall profit that they can attain.
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 By outsourcing manufacturing of apparels, there can be inconsistencies within quality
that is offered by firm to their potential customers (Anwar and et. al., 2017). Retail industry does not offer their services via online platform. In 2013, they have tested
electronic commerce via different organisations but it did not go well. Furthermore, the
shipping and cost was high which makes online trading not apt for the firm.
Opportunities: Retail industry can continue to emphasise in Europe by expanding their operations across
cities such as Berlin, Vienna, Madrid, Lisbon, etc. They can also have stores in Middle
East like in South Africa, India, China and many more. By carrying out extensive research, Retail industry can also analyse the markets of North-
east America for carrying out further expansion. They can conduct their operations like selling of products via online medium.
Threats: Retail industry have all their stores across Europe which implies their sales depend on EU
economy and it is on low growth trajectory. The organisation does not have presence within emerging markets and supply chain is
also vulnerable to certain natural disasters as well as other incidents (Culot and et. al.,
2019).
 In context of technology, firm is not having adequate measures for protecting themselves
from any kind of cyber attacks. This makes them more prone to different online attacks.
Pestle Analysis:
The tool that is used for identification of macro forces that are being experienced by
organisation while delivering their services within the marketplace is referred to as pestle
analysis. Retail industry admires the significance of analysis in creation of strategies and in this
context their Pestle analysis is specified beneath:
 Political factors: The operations conducted by firm are subject to policies and regulations
formulated by government and this involves tariffs, political stability, employment laws,
etc. Brexit have deteriorated the pound which have created impact on retail sector of UK.
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