E-commerce is a growing trend in the global world where more costumers and business organizations are shifting towards making transactions online that saves on their time and effort. In such a situation, the overuse of credit cards among the public is an expected trend in order to gain accessibility to purchases and make easy, hassle-free transactions using the e-commerce payment mechanisms offered by the virtual sellers. However, along with the advantages of credit cards comes the issue of fraudulent credit cards or identity thefts using stolen credit card details from others. This phenomenon is plaguing the industry as people hesitate making online purchases or suing their cards for these reasons. The growing concerns of shoppers over security and safety of their valued money is developing a tensed situation for sellers who have to remain cautious of fraudulent payments as well as keeping their customer base under the grip for offering their products online (Hoang, Hu, Bertok, 2003). Hence, we see that credit card fraud is an alarming condition that can lead to disastrous effects on the e-commerce, making it vulnerable to losses and dissolution.
Research objectives and questions
Credit card fraud is a growing menace for the players in the e-commerce industry. This trend needs to be detected; studied, analyzed and certain practices need to be formulated to rectify the issues arising as a result of credit card fraud. Without being able to propose certain remedial actions, we will not be able to save the online sellers from the insecurity of customers and their shift towards other methods of making transactions.
How does credit card fraud a threatening phenomenon to the shoppers and sellers on online commerce platforms?
What are the methods of detection of fraud?
How can credit fraud be minimized?
What course of action should be adopted by the e-commerce participants against credit card fraud?
Reason for choosing this subject
The success of e-businesses has brought with it, the threat of credit card fraud that is increasing with higher pace. This dissertation will investigate the current debate on the growing concern of credit card fraud and its vulnerabilities in the e-commerce sector. We will also assess and propose some remedial actions that can minimize this fraud and improvise upon its earlier detection. This dissertation will also reveal the channels where fraud can be witnessed and usually observed in the online banking domain and the kinds of barriers that it creates for Business-to-Consumer (B2C) and Business-to-Business (B2B) e-commerce activities.
The objective of the dissertation is to study the credit card fraudulent practice in depth, analyzing its consequences and effects on the e-commerce activities and proposing preventive measures in the end.
Statement of what is to be done
We will approach the study using a systematic manner of research analysis in which we will progress step by step from reviewing the previously available literature to the analysis of the research questions using the questionnaire as proposed research ...