Eben Otuteye, Faculty of Administration, University of New Brunswick, Fredericton, Canada. Email: otuteye@unb.ca
E-Business security, network security, system security, transaction security, risk assessment, risk management, best practices, insurance, certification authority.
In the new economy, information is critical both as input and output. Hence information security management is of high priority. In contrast, the Internet, which is the primary medium for conducting e-business is by design an open non-secure medium. Since the original purpose of the Internet was not for commercial purposes, it is not designed to handle secure transactions. This paper first presents an outline and analysis of the security needs of online businesses. This is followed by an evaluation of the current tools and practices for ensuring e-business security. The shortcomings of the present practices are noted. A systematic approach to e-business information security is presented. The key characteristic of this approach is that it is an insurance-based risk management process that encompasses the entire information infrastructure of an organization.
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