E-Commerce – Top Tips for Online Security

Online security is becoming an increasing concern for e-commerce businesses. Robert Hilty, Founder and Chairman of SwissCCS, (Competence Centre for Security) spoke on ‘Identifying and preventing e-crime and ID-theft’ at E-Commerce and Payments World at The Internet Show Middle East 2011. Here are some highlights.

1. Managing the content of a web-site is like managing a bank account.

It requires:

• Proper authentication:
  2 or 3 factor authentication required
• Transaction security:
  Signing off the content of a new/reworked web-site like a money transaction

2. Every Service Provider (not only banks) needs to secure content of any kind!

Focus on the key elements of each business processes:

• Authentication of authorized user
• Transaction signing
• Secured transmission

3. The solution is “too easy … to be true”:

Implement business processes that prevent the use of false identities and false transaction approvals!

4. The basis is a secure channel.

A direct Link between user and his will-full act (transaction approval) –without any intermediary

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