Managing risk in e-commerce
Barriers to entering e-commerce are comparatively low, but new opportunities can be accompanied by new risks.
Risk assessment means listing all of the risks a business might face and assigning varying degrees of importance to them. Risk management means prioritising these risks and formulating policies and practices to balance and…
Today's threats to e-commerce systems include:
Physical threats - threats posed to the IT infrastructure by, for example, fire or flood.
Data threats - threats posed to software, files, databases, etc by viruses, Trojans and so forth.
Errors by people - eg employees clicking on links within messages received on social…
Unless swift action is taken, any problems with your e-commerce site will be immediately obvious to the world. E-commerce customers typically have little loyalty, so if your website is unavailable they will simply move on to one of your competitors. In addition, technical failure can also have a significant impact…
Risk assessment involves determining:
how likely a risk is to occur
its impact should it occur
Risk assessment can be either qualitative or quantitative.
Qualitative risk assessment
This involves identifying:
the threats
where your systems are vulnerable
the controls you can put in place to counter the threats or make…
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