Credit card information

1. Think about how you would feel if there were no rules regarding how your credit card information was stored on merchants’ websites. Consider whether you would purchase items online. Would the Internet be as big as it is today if we had no laws or information security policies regarding data that makes up an e-commerce transaction? Provide rationale for your answer.
2. Imagine that you work for an organization that has no Internet use policy. Employees use the Internet in whatever way they want using company-owned personal computers. Could this cause a problem for the organization? Why or why not?

Answer preview

The internet would not be as big as it is today if there were no rules governing information that makes up for e-commerce transactions as many organizations work through the internet. (Manohar, et al, 2021). E-commerce websites continue to get affected by fraud despite the extensive efforts made by different stakeholders such as banks, card issuers, and merchants. Promotional discounts are offered by e-commerce websites for retaining new and existing customers. However, in several cases, such discounts are abused by fraudsters through the internet.  For example, in banks, people pay loans via mobile phones and also do transactions through the internet. If the internet is not secure, most transactions could not take place and this would lead to poor bank performance which can also lead to closure.

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