E-Commerce / Trade

Again security problems in (digital) trade

  • The users‘ feeling of insecurity increases

    • Mega-Breaches like eBay, PayPal, Sony unsettle users and let them chose the competition.
    • Besides direct costs (Sony= 172 Mio. $, ebay 130 m $ loss) disastrous damage to one’s reputation occur.
    • Trusted Shops security certificate is not meeting the legal minimum requirements.
    • Provider security level is becoming a decision criterion for customers.
  • Management staff implications

    • According to the German Law IT security is a top management responsibility which cannot be delegated.
    • If this obligation for executive care is neglected, personnel consequences are the result as well as personal liability applies.
    • Target’s CEO and CIO were dismissed following a theft of 110 m customer data sets.
  • Transport encryption often only encryption measure

    • Often the legal requirement to „use an encryption method accepted to be secure“ to protect stored personal data is not fulfilled.
    • Here legal consequences and a monetary fine are possible.
  • Purchasing conditions and supplier terms are most wanted information.

    • Sensitive data in a company is information used to be more successful than the competition. This information has to be protected.
    • Tight trade margins lead to tough price negotiations with suppliers. Competitors are especially interested in the outcome.
    • Periodical supplier negotiations are a central and vital management tool for trade companies. If supplier succeed in price agreements or know their supplier conditions the negotiations become complicated.
  • Customer data as target

    • Professional attackers steal confidential customer data to sell them or to blackmail the company.
    • Credit card data and payment information become increasingly interesting