Berryl Ann Marie B.

Hungoy 3151 ACCTG 203 MWF 7:00-8:00

Data Security and Privacy in the E-Commerce Era: How Safe Are You?

The emergence and continuous rise of ground breaking information technologies in the 21 st
century has revolutionized the way of life. This revolution began late in 20 th century and the arrival of
internet in 1995 had given birth to methods, tools and gadgets providing wonderful applications which
are applied in all academic disciplines and business sector. Today, the growth in the technology industry
is undeniably increasing as people started to embrace this way of life. However, this advancement also
poses various risks. The webinar on “Data Privacy and Security in the E-Commerce Era” focused on the
key risks associated with digitization, including fraud. I strongly concede to the statement that the online
platform is not completely safe since cyberattacks represent major business risks especially when online
channels are compromised as a result of a malicious attack or a system failure.

With the increasing computing power and declining costs of data storage, many government
and private organizations are gathering enormous amounts of data. Some of the organizations
responsible to create enormous data are Google, Facebook, YouTube, courts, hospitals, mass media, and
several government agencies and departments. However, several challenges accompany with having
large piles of data and they include computational complexities, scalability, and visualization of data.
Most importantly, the level of information security risks increases with the surge in the amount of data.
I think that explains the importance of various laws, rules, and regulations which were implemented in
order to maintain data privacy and security in the era of e-commerce.

Despite the sophisticated barriers and controls developed by technology companies and
enthusiasts, it is undeniable that several risks about data privacy and security are still rampant which are
continuously causing fear and trauma to people who do business and execute transactions online.
Phishing is the biggest cyber threat to organizations today, followed by malware, cyberattacks to
disrupt, cyberattacks to steal money, fraud, and others. Because of the emergence of privacy and
cybersecurity disruptions in the business, I believe it is of the best interest of the participants in the
eCommerce industry to live in the digital era where stricter regulations and active enforcement of the
laws are exercised, reputational damages and consumer activism are strongly practiced, and financial
damages can be recovered from the party who caused the breach and disruptions regarding data privacy
and security.

Fortunately, there are also different ways to protect ourselves from malicious attacks and
fraudulent transactions online. One of my greatest takeaways from this webinar is learning to keep
myself unharmed from various cybersecurity threats by exercising appropriate caution and practicing
safe internet usage. I also concur to abstain on sharing and posting confidential information on the
Internet and to always think before sharing something online. Most of us do not have the luxury and
time to identify the culprits and the hackers, thus it is very much crucial for us, online users to be vigilant
and careful as we unravel the journey towards having a safe and secure era of e-Commerce.