Vol. 3, Issue 4 (2016)
E-commerce laws and regulations in India
Author(s): Saher Owais Talib
Abstract: E-commerce has forever revolutionized the way business is done. Retail has now a long way from the days of physical transactions that were time consuming and prone to errors. E commerce services are about transactions, and transactions are very largely driven by money. This attracts hackers, crackers and everyone with the knowledge of exploiting loopholes in a system. Once a kink in the armor is discovered, they feed the system with numerous bits of dubious information to extract confidential data (phishing). This is particularly dangerous as the data extracted may be that of credit card numbers, security passwords, transaction details etc. Also, Payment gateways are vulnerable to interception by unethical users. Cleverly crafted strategies can shift a part or the entire amount being transferred from the user to the online vendor. Hackers often gain access to sensitive information like user accounts, user details, addresses, confidential personal information etc. It is a significant threat in view of the privileges one can avail with a false identity. Viruses, worms, Trojans are very deceptive methods of stealing information. Unless a sound virus protection strategy is used by the e-commerce Solutions firm, these malicious agents can compromise the credibility of all e-commerce web solution services. Often planted by individuals for reasons known best to them alone, viruses breed within the systems and multiply at astonishing speeds. Unchecked, they can potentially cripple the entire system.