The Impact of Cyber Threats on The Trust of eCommerce [Michael Pak].pdfVIP

Impact of Cyber crime on the Trust on Ecommerce Asia Pacific and China CERT CC 2006 Conference 30 March 2006 Trust is a Critical Element to the Growth of eCommerce eCommerce • Trading Platforms like eBay • Internet Banking like Citibank, Bank of China, PayPal Cyber crime and Public Insecurity • Media coverage of theft of data, internet crimes, botnets, spyware, etc • Lack of Awareness of online safety and computer system security Concerns of the Public Community • Data privacy • Theft of financial information 2 eBay Inc. confidential Our Concerns: Key Fraud Schemes Seller Fraud • Account Takeover thru PHISHING • SPAM Soliciting off-site deals • Fake Escrow Sites • Non-Performance of Transactions (False Listings) • Fraudulent Misrepresentations Top 4 fraud schemes are phishing-related 3 eBay Inc. confidential Why is eBay and PayPal a target Phishing • eBay – Open, global Marketplace with over 180 million users • PayPal – Global Payment Platform with over 80 million users • Phishing – Direct financial impact on our members – Erodes Trust in eBay and Paypal – Erodes Safety perception of the Internet • Phishing is a very cost effective enterprise and is empowering criminal groups to build bigger networks • It‘s is necessary to combine efforts from Law Enforcement agencies, Governments, Internet players and ISPs to fight this issue and strengthen our ability to respond to the next issue. 4 eBay Inc. confidential Phishing Sites in Asia Pacific Region – March 13-19 Countries Number of Phishing Sites Korea 87 China 75 India 25 Thailand 25