Legal, Regulatory, and Ethical Issues - 2778 Words

1. What are the 5 hottest topics today involving legal, regulatory and ethical issues impacting on operating a B2C ebusiness? ECommerce has revolutionized the business world by expanding the marketplace and redefining the traditional organizational structure. Its economic influence has been considerable resulting in implications for politics, society and ethics. The future for eBusiness is bright. It will continue its rapid expansion and may eventually take over from traditional business practices however in today s society, there are very few laws enabling an effective transition. ECommerce is a global concept (Hill, 2003, p12). Society, on the other hand, believes in state sovereignty, patriotism and segregation. Political and†¦show more content†¦If a cigarette company utilizes the World Wide Web for its marketing and advertising activities, they may reach Australian audiences yet they are not breaking any laws. 4. Lack of regulatory Laws When Tim Berners-Lee developed the World Wide Web in 1989, he wanted it to become a communications facilitator free from regulation (Berners-Lee, 1996). Unfortunately, this type of facility is just not commercially viable. If the World Wide Web is to be successfully utilized for eBusiness, regulatory bodies need to standardize practices across the globe. Although individual countries have implemented laws regarding computer crimes, these laws do not affect offenders outside of that sovereign state. International legislation must ensure security for all parties involved. Moving towards a solution: Laws regarding intellectual property should be continuously updated and there must be tougher penalties for online crimes. This may mean the end of Berners-Lee s regulation-free vision, but it provides an opportunity for a new, eCommerce-friendly online environment. 5. Risk of Fraud Much debate about the risk of fraud in electronic B2C takes place without any clear understanding about who bears the corresponding risk in conventional commercial transactions. See full paper (URL: http://www.fipr.org/WhoCarriesRiskOfFraud.htm), which examines risk in the banking transactions, which underpin much ofShow MoreRelatedLegal Ethical and Regulatory Issues1479 Words   |  6 PagesLegal, Ethical Regulatory Issues The online banking industry is a growing and a continually evolving business. This paper will identify and describes the legal, ethical, and regulatory issues that impact online banking the Websites. 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