MEASURING AND MANAGING CYBERCRIME RISK IN E-
COMMERCE: THE STRATEGIC ROLE OF CYBERSECURITY FOR
INFORMATION SECURITY AND DATA PROTECTION
Introduction
Currently, information technology has developed and become a joint for people's lives so
that it is no longer difficult to find. The internet has become a necessity for society, marked
by the high number of internet users in United States. When the use of technology matures, it
certainly has an impact on social life. One of the things that economic actors do is the use of
Internet technology in their business processes to make the transition from the interface to the
Internet. This technology is known as electronic commerce (e-commerce). The concept of
online transactions in an e-commerce is a step to communicate between producers and
consumers indirectly. This concept is widely utilized by business people in current
technological developments (Dewantara et al., 2023).
E-commerce is short for "Electronic Commerce", which is an activity through the internet
in buying and selling products. Business transactions in an e-commerce occur online, with
consumers and producers interacting on websites, mobile applications, and other online
platforms (Lisnawati et al., 2023). This online buying and selling transaction has changed
people's perceptions when doing business. Previous buying and selling activities require
meetings between sellers and buyers, have now also changed. Both parties, both consumers
and producers, can meet virtually only using online buying and selling media. No more face-
to-face meetings are needed, just fill in the product description in the specified field on the
application. The payment process through digital transfer can be done anytime and anywhere
(Abdi Baha & Popy Novita Pasaribu, 2023).
Cybercrime is a crime committed over the Internet using computers and technological
networks provided by the information and communications infrastructure. The increasing use
of e-commerce technology has led to an increase in cybercrime in many countries. Criminal
activity on the internet continues to make many people concerned about the risks associated
with doing business on the Internet. Therefore, for successful commerce on the internet,
measures need to be used in protecting the security of consumers and producers. (Apau et al.,
2019). The registration of personal data in electronic systems leads to increased use of
electronic systems, including electronic commerce. Therefore, Internet security is becoming
increasingly vulnerable and can be easily compromised and exploited by malicious people.
As a result, many cases of data leakage may occur (Irfan et al., 2023).
The National Cyber and Crypto Agency (BSSN) has uncovered 103 suspected data
breaches. The most suspicious data breaches occurred with 20 breaches in March 2023 and
15 breaches in December 2023. Cybercrime doesn't just happen once. The incidence of
cybercrime in United States is listed in the findings of the Directorate General of Cybercrime
(Dittipidsiber) Bareskrim Polri, which handled 4,656 cybercrime incidents from January to
November 2020. Online fraud reports came in second with 1,295 reports. This can be an
important indicator of cybersecurity awareness in United States (Dewantara et al., 2023).
Based on three criteria, the three criteria are electronic platform, owner, and user. It can
be identified that in the e-commerce industry there are four main security issues that may be
faced. The four security topics are transaction security, data protection, trading system
security, and cybercrime in e-commerce. Therefore, it is important for e-commerce users to
understand the security risks to their personal information and take appropriate measures to
protect their personal information. (Kehista et al., 2023). Consumers and economic actors
must be able to protect themselves from these threats through cybersecurity. Cybersecurity
refers to measures taken to protect computer systems from digital attacks and unauthorized
access. Risk management and strengthening cybersecurity require special attention. Risk
management in e-commerce companies is becoming increasingly important to overcome the
challenges and uncertainties that exist (Herdiana, 2018) in (Lisnawati et al., 2023).
Cybercrime risk measurement, cybersecurity, and risk management are key elements to
protect e-commerce companies from cybercrime. Understanding and managing cybercrime
risk helps organizations protect their data and reputation and ensure business continuity. This
is what this research focuses on.
This study not only focuses on the threats and risks of cybercrime, but also explores how
risk management through risk measurement helps address the challenges of cybercrime and
the important role of cybersecurity in risk management.
The novelty of this research lies in the holistic and in-depth approach to the relationship
between risk measurement in risk management and the high number of e- commerce users in
United States which poses a high threat of cybercrime. This research offers an integrated
approach that includes risk management, risk measurement, the level of e- commerce users,
the level of cybercrime, and the role of cybersecurity in managing cybercrime risk. The
novelty can also lie in its ability to provide specific insights and applicable solutions for
internet technology users especially e-commerce users contextually in dealing with
cybercrime risks for information security and data protection.
This research aims to identify and analyze the different types of cybercrime threats faced
by e-commerce companies, measure the level of cybercrime risk faced by e-commerce
companies, and assess the role of cybersecurity. Overall, this research aims to improve the
understanding of cybercrime risks in e-commerce and help e-commerce companies improve
their security. This research is expected to make a valuable contribution to the literature on e-
commerce security and help e- commerce companies protect themselves from cybercrime.
Research Methods
The method used is a mathematical literature review (Irfan et al., 2023). The first step is
to determine the objectives and desired results of the research to be carried out. This research
is conducted to better understand the risk of cybercrime in e-commerce and help e-commerce
companies improve their security. To achieve these objectives, the following research
questions can be formulated: (1) What forms of cybercrime threaten e-commerce? (2) What is
the role of e- commerce cybersecurity in predicting cybercrime risks? The second step is
research Searching for papers related to a theme. Article searches were conducted on Google
Scholar using the keywords "cybercrime, cybersecurity, e-commerce risk". The third step is
to select the items identified earlier in the search process. After the item selection process was
conducted, various items were retrieved and stored in Mendeley to organize the selected
items. In the last step, the author analyzes the selected papers based on the research questions
and identifies the forms of cybercrime risks that threaten electronic commerce and the
importance of cybersecurity in protecting against the threat of cybercrime, information
security, and data You currently have a comprehensive overview of the role. Protection.
Instrument
A search for articles on Google Scholar with the keywords ''cybercrime risk,
cybersecurity and e-commerce'' yielded 471 articles. Based on the results obtained, we
selected the papers and used them in this study. Here are the details of the journal article
selection process:
o Papers are published over a period of 5 years, from 2020 to 2024. A total of 363
articles were received.
o Articles that can answer the research questions that have been formulated previously.
We selected articles that could answer these research questions, resulting in 10 articles
of the highest quality for each research question. The keywords included and the
number of articles are as follows.
Cybercrime Threats in Electronic Commerce Maximum 5 articles.
The Role of Cybersecurity in Electronic Commerce has 5 articles
Based on the item selection rate above, it can be seen that the number of journals that
meet the specified criteria is 10 journals. The identified articles can be categorized according
to the year of publication, research methods, and topics covered. After categorizing the
articles used in this study based on the year of publication from 2020 to 2024, the year 2023
has the highest number of publications, namely five articles. Conversely, the least number of
articles published occurred in 2024, with 0 articles published. From 2020 to 2024, the
publication of articles on the risk of cybercrime threats and the role of cybersecurity in e-
commerce is very volatile and tends to increase.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
Results And Discussion
Electronic commerce (E-commerce) is an activity that involves buying and selling
transactions by producers and consumers by utilizing digital technology implemented in
business activities through the use of the internet (Maulana et al., 2015). The high access of
online or internet users is one of the factors for the increasing number of cyber threat cases.
The development of technology indirectly affects the ease of dissemination of information
and data. This can increase the risk of cybercrime. Countering these cybercrimes has a
negative impact, causing significant losses not only to the company but also to its customers.
The loss of retailer and customer trust in online shopping is considered an invisible cost of
cybercrime (Irfan et al., 2023).
Based on a case study in research conducted by Rizkya Amalia Putri (2022), a problem
was found related to phonebook data leakage where one of Shopee's consumers named Liana
Therandhana told the chronology of her data leakage. On July 10, 2019 at 21.00 WIB Liana
Therandhana opened the shopee application and immediately focused on the notification that
entered her account, it turned out that there was a notification statement that all data from the
phonebook appeared. The notification statement was even more than one and that night Liana
herself immediately sent an email to Shopee to ask about it. Because Liana is afraid that if the
phonebook is used by irresponsible people, indirectly the person who has stolen the
phonebook privacy data and can just do other modes or acts of crime. Thus, from the
existence of this case, shopee made preventive efforts in solving the problem of phonebook
personal data leakage. In solving the problem of personal data leakage in electronic
commerce, Shopee formed a team to mitigate risks consisting of sub-units, namely the data
analytics and data science team, regional analytics, and the software engineering and
technology team. In addition, Shopee's responsibility for personal data leakage is based on the
regulations stated in the Electronic Information and Transaction Law, which is used by
implementing all efforts to protect electronic systems in order to implement risk management
in accordance with legalized rules (Putri, 2022).
Of course, in this case it can be used as a statement about the assumptions of most people
who are worried when using e-commerce applications. Thus, the incident shows how security
factors related to user data privacy are quite vulnerable to cybercrime threats. Facing the
uncertainties and challenges that exist, in this case risk management in an e-commerce
business becomes increasingly important. Risks related to e-commerce are privacy security,
fraud, non-compliant rules, lost identity, vulnerability to cyber attacks, and business
continuity affected by negative reviews. Risk management in an e-commerce business
includes identifying, measuring, and managing risks associated with business operations.
Risk management aims to minimize negative impacts and take advantage of opportunities
that are positive in a dynamic and complex business environment (Herdiana, 2018).
Measurement of risk management, especially cybercrime risk in e-commerce, can be done
through assessing the level of risk available and implementing the risk management program
risk management strategy. The strategic approach is generally carried out in measuring risk
management in an e-commerce (Kurniandy, 2016), which is as follows:
Probability-Impact Analysis: Probability can be expressed as a percentage or other
numerical scale that indicates the likelihood of a risk occurring. Impact can include
financial, reputational or operational loss. Combining probability and impact provides a
reliable understanding of the overall level of risk.
Sensitivity Analysis: Identify and analyze important factors that contribute to risk for e-
commerce companies.
Performance Metrics: Performance metrics may include the number of fraud incidents
detected, recovery time from cyberattacks, the level of regulatory compliance, or the
success rate of implementing security policies. By using clear metrics, companies can
measure their risk management progress and assess the effectiveness of the strategies
implemented.
Financial Evaluation: Financial: Evaluate the impact of risks on the company's financial
performance, among others: Examples: loss of revenue, recovery costs after a
cyberattack, losses due to fraud, etc. This assessment helps in understanding the
contribution of risks to the company's financial results and drives smart risk
management decisions.
External Audit and Evaluation: An independent third party may be engaged to evaluate
existing risk management policies, procedures and systems. The results of these external
audits or assessments provide an objective picture of the effectiveness of risk
management in e-commerce companies.
A general strategy approach can be used for risk measurement in e- commerce. These
strategies vary depending on the criteria, specifications, business characteristics and
organizational restructuring. Cybercrime risk measurement in e-commerce is a process that is
carried out to identify, analyze, and evaluate the potential financial and reputational losses
that can be caused by cyber attacks. The goal is to understand the level of risk faced by the
business and take appropriate steps to reduce it.
Cybersecurity is defined as a process that is carried out to maintain and reduce privacy
issues, integrity and the existence of available facts. The process can protect information
systems from all physical attacks and cyber attacks (Indah & Sidabutar, 2022). Cybersecurity
refers to the protection of information according to the type and sensitivity of information in
an organization for strategic use (Horne et al., 2016) in (Irfan et al., 2023). Cybersecurity is
said to play an important role in protecting e-commerce businesses from various cybercrime
threats that are increasingly widespread and sophisticated. Some important things about the
role and importance of cybersecurity in e-commerce, namely, cybersecurity protects valuable
e-commerce assets, such as customer data, financial information, and intellectual property,
from unauthorized access, theft, or damage. Cybersecurity is the protection of cyber
structures from emerging cyber threats. Therefore, cybersecurity is significantly useful when
protecting the security of information and data because it is necessary in order to protect
information and provide assurance that the data sent is safe.
Conclusions
Risk management in e-commerce is becoming increasingly important in managing e-
commerce-related risks. Strategic approaches can be taken in measuring the level of risk in e-
commerce, these strategies vary depending on the criteria, specifications, business
characteristics and organizational restructuring. Referring to e-commerce, cybersecurity has
an important role in protecting the data contained therein. Cybercrime risk measurement,
cybersecurity, and risk management are important elements to protect e- commerce from
cybercrime threats. By understanding and managing cybercrime risk, businesses can protect
their data and reputation, and ensure the continuity of their operations. The limitations in this
study are limited to explaining the description and elaboration of the research results of
several selected journal articles. However, it does not provide further analysis of the
relationship between the articles discussed. Future research is expected to sharpen the
understanding and solutions to the challenges of cybercrime in e-commerce.
