8th May 2001

e-Commerce Risks Update

The April/May 2001 issue of the IRM's magazine InfoRM carries an article from me on the range of e-commerce risks and strategies for combating them. The article points out that although some of these risks are new, many are variants of well-known categories such as theft, fraud, computer security, contractual risks, commercial risks and so on. Indeed, sophisticated risk controls for e-commerce alone will not protect an organisation against failure to institute basic risk controls overall and may even create a false sense of security. This is backed up by ShawnCoulson, the international law firm (www.shawncoulson.com), who note that many businesses looking towards e-commerce, whether as pure dot.com start-ups or in transition from old-style businesses, fail to fully consider the basics of business such as a business plan, properly considered contractual documentation and appropriate financing. A list of examples of reported bad experience of e-commerce risks is included plus a table of risk reduction and control requirements. Contact ams@centrenet.co.uk for a copy.

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