Cybersecurity Challenges in E-commerce and Financial Transactions

Author(s): Rakesh Kumar Rai

Publication #: 2407044

Date of Publication: 05.05.2019

Country: India

Pages: 1-4

Published In: Volume 5 Issue 3 May-2019

Abstract

The digital revolution has reshaped the landscape of e-commerce and financial transactions, provided unparalleled convenience but also presented significant cybersecurity challenges. As e-commerce platforms and financial institutions expand their online presence, they become lucrative targets for cybercriminals seeking to exploit vulnerabilities and access sensitive data. This paper explores the key cybersecurity challenges facing e-commerce and financial transactions, including data breaches, payment card fraud, phishing attacks, malware, ransomware, third-party risks, and regulatory compliance. It examines the importance of cybersecurity in safeguarding sensitive information and financial assets, highlighting the potential consequences of security breaches for businesses and consumers. Strategies for mitigating cybersecurity risks, such as implementing robust security measures, conducting regular assessments, and fostering collaboration with industry partners, are also discussed.

Keywords: Cybersecurity Challenges, E-commerce Security, Financial Transactions, Digital Revolution

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