The
Internet has gone beyond a communications and information medium
and become a way for
consumers to trade, buy things, and even do their
banking. With vendors providing many of their services
online,
e-commerce is at an all time high. It encompasses a surprisingly wide
range of activities, and each requires our attention and vigilance. It
is critical to use the best
security technology, and keep
personal information confidential.
For example, 70% of consumers today prefer to buy software online,
but there are still a wide range of attitudes about online commerce.
For some, it's as natural as walking down Main Street and into the
corner store. For others, it's unfamiliar and scary. Regardless of how
familiar consumers are with online transactions, security is and should
be a concern. Fraud is perhaps the most pervasive danger in online transactions. Con
artists engage in what is known as phishing expeditions and try to take
advantage of the trust built with online institutions. In their attempts to fool
consumers into divulging credit card numbers, passwords, and social security
numbers, they impersonate banks, Internet service providers (ISPs), and payment
verification companies. They have even sunk so low as to masquerade as charity
organisations. In fact, within days of the Hurricane Katrina disaster, there
were reports of numerous fraudulent Web sites taking advantage of those trying
to send financial aid to the victims.
Though awareness of PC security is mounting, consumers do not have much
knowledge of security technology. The IT industry estimates that more than 40%
of personal computers world-wide are not adequately protected.
One hour of unprotected surfing can pick up hundreds of uninvited software
visitors, some of them malicious. This translates to the fact that there exists
no "
code green" or "safety zone" in the online world. Existing
threats, mostly
viruses and worms come under the "code orange" or "contained threat" category.
But an alarming concern is the speed at which new threats are being generated.
They generally fall into the "code red" category as they aim to steal money, and
in many cases have not been seen before so traditional security software cannot
protect against them.. Research shows ten new threats being identified every
day.
Developing malicious code has become a full-time job for hackers to hijack
thousands of computers with an aim to control them. A new trend states that
developers of these threats may be employed for that purpose and several
development teams in various locales may be collaborating on such projects. In
addition to this, fraudsters use the internet to find victims as well as
communicate with other fraudsters. Research indicates various forums serve as a
source for a comprehensive range of information serving those looking to commit
cyber crimes. Dedicated online forums are used for trading or selling different
commodities from credit card information to counterfeit currency.
Online threats are moving from hacking for glory to criminals who want to
steal money. 80% of the top threats are to do with stealing personal information
in the interest of financial gain. Surveillance, analysis and distribution of
responses can be distributed within hours, but new defenses are required.
Increasing internet security threats have resulted in the erosion of consumer
trust in online processes. In a study conducted by Gartner and Cyber Security
Industry Alliance, 53% of internet users have stopped giving out personal
information to websites due to fear of online fraud and identity theft which has
been the top consumer complaint to the Federal Trade Commission for the last six
years. These statistics reveal several areas of concern that have had a direct
impact on e-commerce industry. 30% of consumers have reduced overall usage of
the Internet and 42% are reluctant to shop online. Additionally, % have
stopped paying bills online with 4% putting an end to their online banking
transactions.
The lesson here is not to stop transacting online, but to take the right
measures to battle against "crimeware" or malicious software threats.
Irrespective of the credibility of the portal, it is critical to be cautious and
run security software to prevent harm. With cyber crime increasing at alarming
speeds, we must all take measures to protect our confidential data.
Security threats are now on the radar of most Internet consumers, and they
have increased demands of security companies. They do not want just a product;
they want an all encompassing service. With new attacks cropping up everyday
security companies need to be on high alert to spot the latest threats and
create responses. It's critical to spot threats and eliminate them within hours
of their appearance