Impacts of the global e-commerce boom on cybersecurity in Singapore essay sample 

In this essay sample Singaporean students learn what e-commerce in cyber security is, why it is important, the Global e-commerce boom, How does it affect cyber security, the Impacts of the global e-Commerce boom on cyber security, the Role of e-commerce cyber security and e-commerce security issues and their solution, etc.

This essay discusses the impacts of e-commerce on cybersecurity. It’s an interesting read, and may also be helpful for students who want to understand more about what they’re reading! For downloading this essay they can directly approach our essay experts.

Introduction- Impacts of the global e-commerce boom on cybersecurity in Singapore essay

The global e-commerce boom on Cybersecurity has created a perfect storm for the growing number of cyber security breaches. The increase in transactions has raised the stakes and incentivized hackers to target online stores with high-value goods, such as electronics, clothing, and luxury items. As more people buy goods from overseas sites, it becomes increasingly difficult for Singapore businesses to protect personal data without damaging customer experience.

Main body-Impacts of the global e-commerce boom on cybersecurity in Singapore essay

What is e-commerce in cyber security?

Electronic commerce is the process of buying and selling things or services in a computer-based environment in Singapore. Online commerce includes such things as electronic shopping, online auctions, retail websites, online classifieds sites, etc.

e-commerce boom on Cybersecurity is just an analogy for data breaches happening through networks such as the internet. You can compare it to retail shopping with physical items from supply chains but with digital goods like data instead. The same tricks apply too – employing an e-commerce readiness plan minimizing risks before any breach has happened and allowing for customers to find out when they may have been hacked from your company website offers invaluable customer service in Singapore.

Why is cyber security important in e-Commerce for Singaporeans?

The E-commerce boom in Cybersecurity is important because the connectivity between networks and systems creates a possible entry point into data, which hackers can use to steal information.

Hacking has been around since long before computers were common. Singapore businesses have always needed to protect themselves against unauthorized people entering their property or unsecured transactions being performed from within for nefarious purposes. The Singaporean digital frontier hasn’t changed much access to networks and systems still creates a possible entry point into data that hackers can use as they wish, whether it be stealing information or interfering with an organization’s operation of its network infrastructure.

Global e-Commerce boom

The global e-Commerce boom on Cybersecurity is a phenomenon that has seen the proliferation of internet-based buying and selling. This global process, known as e-commerce, has driven the rapid growth in online buying and selling all around the world, but it’s especially prevalent in Singapore.

The United Nations Conference on Trade and Development has noted that during 2013 there was $1 trillion in online sales globally that number is expected to double by 2020 according to American Express. In total, more than 274 million people worldwide have purchased something from an online store at least once per month with two-thirds of those transactions made by those who make up today’s Generation.

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How does Singaporean e-commerce affect cybersecurity?

Cyber-attacks on Singaporean businesses and organizations are driven by the economic incentives of attackers. In eCommerce, cybercriminals want to target payment data because it’s the ultimate goal to turn this data into actual cash. With multiple ways for technology in our day-to-day lives (we use smartphones, tablets, computers), we may not realize how important cybersecurity is for eCommerce specifically; cyber-attacks can lead us down a slippery slope if we don’t take sufficient precautions.

However, we do know that security breaches cause more than $3 trillion in damages each year globally and therefore companies should monitor their systems closely in order to prevent hackers from intercepting personal and financial information which could put people at risk or lead to more cyber breaches.

Impacts of the global e-Commerce boom on cybersecurity 

E-Commerce has had a significant impact on the global economy, and with it, has also come unprecedented amounts of cyber security risk.

Previously, e-commerce transactions were often conducted through brick-and-mortar retailers or regional banks. Today there is an extremely diverse group of intermediaries involved in transactions including credit card companies, digital payments providers like PayPal and Apple Pay, financial institutions such as Visa and MasterCard as well as various states that are opening up new pathways to commerce such as New York with its passage of the BitLicense. Through all these complexities lies a problem that presents itself cyclically with everyday use – passwords.

Role of cyber security in e-commerce

Cyber security is one of the most important obligations that Heta Retail has. We make sure that all areas from our sites to your computer in order to protect both security and democracy. In order to create a safe environment, we have committed only some part of the labor force. And we are always alert on illegal intrusion by terrorists, criminals or nation-states organized attack groups.

The big task for Singapore companies doesn’t necessarily have to do with funding better defenses, as many Singaporean businesses already spend tens of thousands of dollars on this; it has more to do with coordination between marketing and IT departments, as they may be pitted against one another in terms of priorities. It’s these sorts of internal issues that are really stressing out CEOs across America today, not what to buy from external providers like managed security services providers (MSSP).

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E-commerce security issues and solutions for Singaporean

One of the simplest ways to safeguard against credit card fraud would be to avoid authorizing a transaction that appears to come from an unknown location.

To reduce risks, it is advisable to send the merchandise before receiving payment information. Strictly do not take advance payments for transactions, and if you do have to and cannot get the money yourself, find someone who can act as a guarantor or witness. Insist on getting some form of ID when sending goods across borders by mail; most couriers will not let customers send packages without a customs declaration or proof-of-content letter that includes the sender’s signature or identity number.

Conclusion:

In conclusion, this essay has shown that the e-commerce industry is booming globally and it will continue to grow in Singapore. As a result of more people shopping online, there are new cybersecurity challenges for companies operating on an international level. These cyber risks can be mitigated by implementing strong security measures into their operations as well as educating customers about how to protect themselves from fraudsters.

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Hope Singaporean students understood the impacts of the Global e-commerce boom on cybersecurity.

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