Mobile Commerce Security and Its Prevention

Abstract

Mobile commerce is the next generation of e-commerce, where payments and financial transactions can be carried out with utmost ease using handheld mobile devices. Mobile devices are at a higher security risk due to the large amount of critical financial and personal data available on it. The cause or consequence of these threats could be - malware and spyware attacks ; multiple or incorrect m-Commerce payments; breaches due to unauthorized access or disclosure, unauthenticated transactions and risk due to the use of third party networks. This chapter discusses how to manage security risks in m-commerce by first identifying them and then discussing preventive measures for their mitigation. A continuous approach for risk prevention needs to be followed, reviewing the strategy according to the latest challenges. Various risk prevention and mitigation strategies can be adopted. Service providers must follow physical and digital security measures to protect consumer's business information. Independent auditing should ensure compliance with best practice security standards.