Transaction Security in E-commerce Research Paper

Transaction Security in E-commerce - Research Paper Example This research will begin with the statement that E-commerce refers to the business deals between organizations and individuals carried out through the digital technologies. Normally, it is acknowledged as the Internet-based electronic commerce. According to this scenario, e-commerce offers numerous benefits for businesses to carry out business activities on the Internet. E-commerce has been offering to the worldwide economy very much, all through the past decade, as more companies and corporate owners and entrepreneurs have started building their own web based Business Empire. In view of the fact that the Internet carries on to grow, and more and more people began to utilize the Internet for a wide variety of reasons, thus, businesses in all the industries are starting to compete extensively for clients on the World-Wide-Web. In addition, it forms a situation where hundreds and thousands of web based transactions happen on a daily basis, with millions of dollars being spent in online transactions. According to this scenario, the majority of people do not understand that the job of protecting similar business transactions is completely up to the web hosting supplier, who is actually responsible for making use of the suitable applications, implementing safety and security measures, and technological advancements to ensure security of customers’ financial particulars of their customers. At the present, the majority of business organizations are largely making use of the Internet for communicating and establishing profitable relationships with their customers to entertain them with their products and value added services. With the advancement in information and communication technologies, electronic commerce has emerged to provide the customers with the services to perform the transactions from any location over the internet. In the same way, electronic banking provides its customers with 24-hour access to cash through an automated teller machine (ATM) or a direct deposit of paychecks into the checking or savings accounts (Biswas, Taleb and Shinwary; Turban, Leidner and McLean; Pourshahid and Tran). This paper will discuss some of the important aspects that are associated with â€Å"transaction security in e-commerce†. According to this scenario, this paper will address some of the important security issues that can emerge during online transactions (e-commerce transactions). This paper will outline some of the main security vulnerabilities regarding those security areas and aspects. Security Specification in Web Service These days, the most authorized and wide-ranging web service security principles and standard for the (Web Services Security) are based on WS-Security guidelines that were published by IBM in cooperation with Microsoft and Verisign. Basically, the security of web based services and business transaction is based on these principles and it as well puts together the frequently established security models, methods a nd technical supports. According to this scenario, the basic purpose of implementing web services security is to ensure the confidentiality and reliability of the data processing through application programs as well as to recommend the expansion and message header of the SOAP. In addition, the Web Services Security unites a wide variety of security configurations, models and methods. It is one of the service oriented standard conditions. Some system is capable to make sure to be equally compatible with others throughout the platform and the technique autonomous of language (Farshchi, Gharib and Ziyaee; Whitman and Mattord). Client-side Security Issues Client-side security has always been one of the major issues from users’ point of view. Generally, client-side security necessitates utilization of customary computer security technologies, like that suitable user authorization and authentication, anti-virus and access control