Threats to online Trading companies in APA style

University Degree Business and Administrative studies

Introduction

According to Luis and Camarinha-Matos (2004) threats to online trading companies are from the hackers who take advantage from carelessness of the people or companies using the online services for trading.

This report will be discussing the major threats to online trading companies and how these threats affect on businesses.

According to Anderson (1997) Information has been an essential criterion to business success in the global marketplace and most organizations understand the need to protect their information assets from damage and disclosure, whether accidental or malicious.

He further sated “However, a new business revolution is taking place: Electronic commerce. This new method of transacting business goes beyond simple information processing to re-define the relationship between a company and its customers, partners, suppliers, vendors, and competitors.” (Anderson, 1997)

Anderson (1997) says that the foundation of this new environment is technology. Several attributes of this technology have profound implications on electronic commerce, driving the re-definition of business. He also sated that “These attributes include global connection and access, technological complexity and change, time to market, and legal and regulatory requirements, and these same attributes play an important role as enablers of threats to the business’ information infrastructure.” (Anderson, 1997).

He also described that “Information security has several components and attributes that must be considered when analyzing potential risk. Broadly, these fall into three categories: availability, confidentiality, and integrity. Threats in any of these categories can seriously disrupt business. The importance each plays in business operations (and therefore the level of potential disruption) varies from industry to industry and business to business. Most businesses can tolerate at least short disruptions in availability. Likewise, many businesses have large quantities of information that, if released to the public or competitors, would have little or no business impact. Because of these variations, it is important ...

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According to king (2007) there are many threats from hackers and con artists when a company does business online.

King (2007) found…These frauds are supplying fake products, Credit card fraud, clicking on fake advertisements fraud, Phishing or password harvesting by email.

According to Hupp (2007) The US economy is on an increasing shift into the digital world. As such, the threat of online terrorism increases right along with the shift. This includes attacks that paralyze entire web sites, viruses, theft of intellectual property, and other malicious actions designed to cause harm online.

According to Hupp (2007) there are many Ways Online Terrorism is affecting the Markets.

She stated, “As fear of online terrorism attacks grows, investors are more likely to support companies that are responsible for cyber security. These include McAfee, Symantec, Computer Associates, Internet Security Systems, and Trend Micro. After 9/11, cyber security companies such as these in a quarter where nearly all other sectors were suffering. In addition to being backed by investors, cyber security firms are enjoying increased revenues as companies and individuals purchase products designed to protect their systems.” (Hupp, 2007)

According to Hupp (2007) In February 2000, e-commerce leaders like eBay, Amazon, and Buy.com suffered that took their operations offline for varying amounts of time. Although security and customer accounts were not compromised, the attacks still hold a large significance. Just one day of reduced or disabled e-commerce could result in the loss of billions of dollars in transactions. This means investors may be wary of putting their money in ventures that rely on the Internet as their only method of doing business.

He further stated, “Terrorists have to get online somehow and how they do it is a concern for communications companies.” (Hupp, 2007)

Hupp (2007) found... virtually anyone can find “cracked” software online, and this practice is taking a bite out of the software industry. He further stated that article published by Business Software Alliance addressed software companies experienced a loss of $33 billion due to piracy in 2004. As a result, the markets have seen anti-piracy solution providers experience growth due to the increased need for technologies like and secure software licensing.

She stated, “Online terrorists may attempt to gain access to intellectual property and trade secrets. In the wrong hands, this information could create major problems for designers, manufacturers etc.” (Hupp, 2007)

According to Arbor Networks (2007) , the iPhone will be a major target for cybercriminals in 2008.

It also highlights Chinese specific crime as a major issue for the New Year. (Arbor Networks, 2007)

Conculsion

Hacking and fraud problems are rising up now a days, as technology moves on as cyber crimes are clearing there paths too to move on and on. These serious can be caught out just by implementing good startegies on the systems and on internt also. Otherwise these big problem may lead to a big disaster.

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