e-Security - Why Security?
Computer-based businesses exist in an ever-changing environment. Advances in technology, changes in business tactics, and fear of terrorism cross all political boundaries. Although business productivity and the quality of life continue to improve in developed countries, the world is becoming increasingly sensitive to security issues. Internet crimes were growing at an alarming rate even before the terrorist attacks of September 11, 2001. Still, businesses continued to pour money into tightening security across their e-business networks.
Now, as America has become a major target for terrorism, technology experts have become even more alarmed at the possibility of cyber-terrorism on a massive new level. President Bush appointed Richard Clarke to the newly created job of Cyberspace Security Adviser to deal with this threat. Businesses have begun to construct powerful networks of both large and small preventive measures. But in the midst of the war on terrorism, the ultimate responsibility of safeguarding private information will rest solely on the companies that conduct business over the information highway.
Today, reliable security is particularly vital in the area of Internet banking. Banks want to make transactions as easy as possible. But how can banks ensure the safety of their customers’ assets as banking expands onto the Internet? “In this limited market, banks must clearly define their customers’ needs and find a balance between security and cost effectiveness” (Wade). This report will explore possible technologies for preventing and treating Internet security breaches. It will also analyze the trade-off between extreme security and customer satisfaction to illustrate the dilemma online bankers face daily. These findings will be useful for both businesses and consumers who operate via the Internet and for anyone who uses traditional or online banking.
- Online banking for the individual
- Online banking for the small business
- Online banking for the large corporation
- One-way security
- Two-way security
- Digital signatures
- Firewalls and Virtual Private Networks
- Outsourcing security
- Marketplace Analysis
- Meeting the needs of the individual consumer
- Meeting the needs of the small business
- Meeting the needs of the large corporation