New Financial Transaction Security Concerns in Mobile Commerce

In the past, the majority of the computer security officers had difficulty in convincing management to allocate financial resources for IT security. However, with the emergence of electronic commerce and varied legislation, organisations appear to have understood the necessity for computer security, especially data security. Currently, in most organisations, security officers focus on IT security – namely – hardware security, software security and access security. The access security involves both physical access and logical access. What appears to be missing from these security procedures is proper integration of business transactions. Ghosh states that while various security measures have been taken independently from business transaction, electronic commerce and the emerging mobile commerce have changed the perception that independent IT infrastructure security alone can protect an organisation in terms of its business needs. To support Ghosh’s statement, Deise 4 has identified a shift in the focus of IT security in organisations, resulting in new security policies to focus on reliable, available and trusted business transactions of organisations.