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RISK MANAGEMENT

Risk Management in Online Transactions- The Issue of Network and Systems Security

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Risk Management in Online Transactions- The Issue of Network and Systems Security

On numerous platforms, there has been a huge growth in the number of electronic

shopping. Digital shopping helps to boost the global economy by making money transactions

between customers and retailers more convenient and faster. For digital shopping to be effective,

there must be a stable network that is backed up by a security system that protects the

transaction's data. Because the systems used to protect online transactions aren't completely

reliable, there's a need to address these concerns. For several individuals, e-commerce is

becoming their primary mode of transaction, and it is anticipated to continue to rise in the future

years (Bushra Mohamed et al,., 2019). More sections of the world are acquiring dependable

internet connectivity and adopting ecommerce as a business model.

The research examines the present condition of electronic shopping as well as the

numerous ways in which the system might be enhanced to eliminate existing flaws. The research

provides information on how to utilize the network to trade as well as solutions for both

customers and merchants to avoid hazards (Jean-Pau et al,., 2020). The hazards listed include

both those that have occurred in the past and those that are now occurring. It is an appeal to all

parties concerned to guarantee that there are no anomalies in this sector, which benefits a large

number of people. In different regions of the world, there have been varying levels of acceptance

of electronic transactions, and everyone’s encounters have determined this (Camillo, 2017).

Ecommerce is becoming increasingly popular among businesses, and the economy is benefiting

greatly as a result. Even while the great majority of such breaches go undetected, the number,

intensity, and complexity of cyber-attacks on financial institutions keeps rising. If financial

companies are to successfully battle the increased danger, they must implement a three-pronged
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approach that includes strict internal processes, external expert help, and the use of adequate

insurance coverage.
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References

Bushra Mohamed et al,. (2019). RISK MANAGEMENT IN ONLINE TRANSACTIONS: AN

ISSUE OF SYSTEM AND NETWORK SECURITY. An International Journal of

Advanced Computer Technology.

Camillo, M. (2017). Cybersecurity: Risks and management of risks for global banks and

financial institutions. : Journal of Risk Management in Financial Institutions, 196-

200(5).

Jean-Pau et al,. (2020). Cyber-physical systems security: Limitations, issues and future trends.

Science Direct.

References

Pan, Y. (2012). The research of Online Transaction Risk in Service Provider to Consumer.

National Conference on Information Technology and Computer Science.