Many people are still reluctant to use their credit cards for online payments. They encourage you to get the bank details on the website. This kind of fear exists for many people. Despite our modern society, we need to use our credit cards online on many occasions. In fact, many people do not have a bad experience with online credit card payments, yet, proceed with caution.
Why do people commit financial fraud online?
One of the main sources of fear among the common people is that fraud is all around us.
When we hear from the best hacking companies’ websites all the time, it is easy to raise an eyebrow. For example, Sony and Google, the two largest tech companies, have been hacking targets in the last ten years. So, the idea is, if these big companies can’t protect themselves, how will we? There is no doubt that the fear of online fraud is a legitimate one.
In fact, it can be said that deception is always between us. Be a constant flow of emails from the Nigerian general, which helps us get bigger luck than phishing emails that try to share your bank account details or email passwords. Cheat Attention is usually normal. While our society is learning how to stop these illegal criminal attempts, there is a fundamental fear that this will happen to you one day.
Thankfully, in some countries, intellectual property and online fraud laws are fairly strict and well-established.
However, there are some cases in which fraud arises from an area that is just the opposite. The question is whether the courts will be visited in such a situation.
Security vulnerabilities along the way may work.
Security vulnerabilities is a main concern when it comes to e-commerce. Since the financial transmission is the ribbon of e-commerce, if not its full purpose, any hesitation on the part of the customer when it comes to making online payments can completely ruin the e-commerce party.
Of course, this is a problem because consumers rely on these acceptable ways to exchange services faster. In fact, 79% of Americans shop online, according to a 2016 study by Pew Research.
A major security issue surrounds the difficulty of anyone being able to spring a security leak. It’s not just about an e-commerce website getting hacked – fires can start in any corner. Here are several ways a hack can take place:
- Payment gateway
- An infected user’s computer can be infected with malware
- A shopping cart software provider that exposes the threat to your environment
E-Commerce Security Tangle Solutions
There are two major ways to make the web a more secure place to make transactions using SSL (Secure Socket Layer) or two-factor authentication. Even so, technology is not the ultimate solution. Since the security issue in e-commerce is threatened to be removed from the solar industry, everyone needs to make the Internet more secure. These include but are not limited to:
- Technology developers
- E-commerce business owners
- Payment processors