Under the e-commerce refers to any form of business transaction in which the interaction of the parties is carried out electronically instead of a physical exchange or direct physical contact, and as a result of which the right of ownership or right of use of the product or service is transferred from one person to another.
A good example for the consideration of this sphere can be an American company eBay, systemically facing operational risks.
In e-commerce operational risk is the probability of loss/profit shortfall as a result of failures in the performance of daily, routine banking transactions. With regard to the e-commerce, there are three main areas of operational risk - the functioning of the security system, the involvement of other organizations to provide certain types of electronic banking services (outsourcing) and development of new technologies of the banking question employees.
Basel Committee on Banking Supervision at the Bank for International Settlements has formulated 14 principles of risk management in the field of electronic banking services. The body of these rules is not required for the execution of the directive, however, de facto all reputable banks in developed countries comply with these requirements.
Here is a list of them:
1. Creation of an effective system of monitoring of transactions occurring electronically.
2. The introduction of comprehensive monitoring procedures on maintaining the necessary level of information technology security
3. The regime of careful tracking of interaction with the partners engaged in the provision of certain types of electronic banking services.
4. Authentication of customers using electronic channels of service.
5. Prevent disclaimer for online transactions and strict responsibility for their conduct.
6. Separation of the functions performed by bank employees at work in the e-banking systems, databases, and applications.
7. Effective control of the authorization procedures and gaining the access to e-banking systems, databases and applications.
8. Ensuring the integrity of data on transactions and records in the field of online services.
9. An accurate accounting of transactions made by electronic means.
10. Confidentiality key banking information.
11. Disclosure of relevant information on electronic banking services to the bank's website.
12. Preventing unauthorized access to customer information.
13. The content of e-banking systems in constant operational readiness.
14. Creation of an effective mechanism to respond to unexpected incidents in the form of external and internal attacks on systems, e-banking.
References
Bank for International Settlements (2016, February 16). Retrieved from http://www.bis.org/index.htm
