In 2017

In 2017, e-commerce was responsible for around $2.3 trillion in sales and an estimated 1.66 billion people worldwide purchased goods online, according to a Statista report. With more than half of the world’s population making online purchases, it has become vital for businesses to establish an online presence. The fast and dramatic changes in technology and the internet has provided companies innovative and exciting ways to expand upon their business opportunities. E-commerce or online business has shrunk down time and distance, cut down complex business activities, and has enabled more effective partnership and contact. The primary technological goal of e-commerce is to integrate businesses, government agencies, and contractors into a single community with the ability to communicate with one another across any computer platform (Edwards, 1998). But as nothing comes without drawbacks, e-commerce has hurdles in the road of success and cybercrime is one of the biggest problem for the e-commerce industry. This report aims to identify how cyber-crime affects e-commerce and also provides some solutions to reduce the risks of cyber-crime on businesses and individuals.