An approach to risk management for e-commerce

Today's trend of online shopping proves the vital role e-commerce plays in our daily life. Online transactions require reliable networks, and reliable networks depend on secure information technology. These networks have many advantages, but they have disadvantages as well-notably, the need for risk management. The growing importance of e-commerce, with its associated need to ensure trust in online transactions, has led the authors to study and propose risk management in e-commerce from a holistic perspective, thus enabling the implementation of real-time auditing of e-commerce transactions using the digital agents' technology. In this paper, the authors discuss e-commerce's risks and present a methodology that can be used to manage those risks. It concludes that e-commerce risks are a high priority for online businesses, and that many of the requisite controls are extensions of controls for managing risk in other information systems.