The rise of the popularity of electronic commerce has brought about worries over high tech crimes. This was the trend in 2005—the increasing rate of perpetration of fraud and malicious software has likewise caused security firms to speed up on detection and reaction.
The popularity of electronic payments and online banking has brought a new danger to the connected individual. As cash is being replaced by electronic pulses that travel through wires or the airwaves, so has traditional pickpocketing been replaced by online fraud. Phishing attacks—social engineering feats that con unsuspecting individuals into giving out their personal information, including banking and financial info—have been commonplace since people started storing important identity information online.
Business solutions and company formation experts are concerned that enterprises might be wary of gearing their businesses for online commerce because of these threats. However, the world is shifting to becoming e-everything, and e-commerce is inevitable. Hence, firms should learn to combat fraud and other e-crimes head-on.