E-commerce has been significantly growing ever since 1990 and now, nearly all retail businesses are in leverage of their sales through websites. If you are considering to start an e-commerce website or you already have an existing site, you should know that e-commerce can bring you many benefits. However, there are also challenges in e-commerce that you may encounter sooner or later in the course of your business such as ethical problems.
Here are some of the existing ethical problems that e-commerce and accounting firms in Singapore face today:
• Theft of Information
Nowadays, it is not hard for hackers to attack and access vital information through the internet. Most customers do transactions by filling out forms with their personal information such as name, address, email address, birthdate, and contact information.
Since cash cannot be used online, it is impractical to write and send a check and so they use credit cards. They transfer card numbers, security codes, and expiration dates over the net. This is where theft is possible. To prevent these issues, accounting firms in Singapore and websites should have an efficient security software in encrypting personal data.
• Poor Service
Online retailers could ship counterfeit or damaged goods to their customers or even fail to deliver any product at all. They may fail or refuse to give credit to their customers who return the purchase. Online sellers may fail in protecting the shipment of goods and choose to refuse taking responsibility for damages. Being irresponsible is one of the indications of poor service and this is a common problem and complaint in the e-commerce industry.
• Switches and Baits
In e-commerce, online sites and sellers are given the opportunity to massive email promotions to many potential customers which mean there is a high risk for scams and spams. Sellers are often advertising great deals on latest gadgets and attract the curious consumers to sites that do not offer such products.
Some often offer baits and switches to get your personal information, ridiculing that you can earn easy money through home-based employment. So, consumers will eventually find out that they are paying for e-book courses that are actually not happening, causing large debit on their bank accounts.
• Copyright Trolls and Intellectual Property Theft
The basic copy-and-paste action enables anyone who has the access to the internet to copy original works of others directly such as artwork, text, photos, music, and ideas. These intellectual properties move from their creators to copiers without granting permission for sought or use. The victims of this theft have recourse if they have registered a copyright and if they want to spend their time writing demand letters and filing lawsuits.
On the other hand, “copyright trolls” are those who buy rights to books, music, and movies as well as threaten lawsuits against many people who are found to be downloading materials and demand a settlement from them.
These are the top ethical issues that the e-commerce world is facing. As a businessperson who is into e-commerce, it helps that you know these issues so that you can do something about them as early as today. Same with other businesses, accounting firms in Singapore like O.S.1 Enterprise are also being careful of all these business threats. Give us a call at 6908-1813 to know more.