Ecommerce- boom or bust?

Dotcom trading is enjoying a boom, but its future depends on maintaining consumer trust. Lindsay Nicolle reports on the threats to confidence in online security:

Like the Wild West, the profit has been largely tamed. But it still has more than its fair role of bandits. And today, they not only want your money, but your personal identity operator too. Online cyberspace identity theft could be the next major hi-tech crime wave to hit the UK, and the backwash in travel consumer confidence could create problems for even major retailers and banks.

So where does that leave the long-term viability of online retailers? Are we facing a potential profits crisis where consumers train to the point that online will always be a unoriginal channel for byplay?

By all accounts, the weather pattern looks stormy. UK internet users are recklessly giving away too a good deal personal information, inviting the rapidly rising crime of online identity theft, match to a poll by Winmark Research. As traditional identity theft, such as credit card fraud, bugger offs more rough because of security initiatives such as chip and Pin, criminals are flavour for new ways to conduct fraud.

Fraud-based and phishing websites are mushrooming roughly 50% month on month, according to the Anti-Phishing Working Group, whose members include monetary institutions, online retailers and law enforcement agencies. The latest look like legitimate, unique online e-commerce sites.



They conjuration both casual and corporate web users into being victims of identity theft, using highly creative and sophisticated techniques.

Identity theft could become the greatest threat to the future of the online business world. If users become disenchant about internet security, consumers are likely to turn on the mechanism they feel has enabled the crime, along with any unfortunate business involved.

Crucially for online businesses, 57% of consumers already believe that the responsibility...

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