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BennettGold.ca. Who Do You .comTrust?. Robert Y. Gold , MBA, CA, Managing Partner January, 2001. INDUSTRY PRIVACY FAILURES HURTING E-COMMERCE Concerns over privacy continue to hamper e-commerce. Jupiter Communications found: - PowerPoint PPT Presentation

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  • Who Do You .comTrust?

    Robert Y. Gold, MBA, CA, Managing Partner

    January, 2001

    BennettGold.ca

  • INDUSTRY PRIVACY FAILURES HURTING E-COMMERCE

    Concerns over privacy continue to hamper e-commerce. Jupiter Communications found:

    64 percent of respondents dont trust a Web site even if it has posted a privacy policy. Privacy issues could potentially put an $18 billion dent in the projected $40 billion 2002 e-commerce revenue.
  • Consumer fears are proving to be deep and complex:

    Its not just about legislation or posting a privacy policy. There is a general nervousness about giving personal and credit card information. Sites need to actively promote their efforts among consumers to start pushing back their fears. People will be less willing to give information about themselves until they feel they can trust the site.
  • NFO Interactive found that the safekeeping of online consumers personal information was the main factor why people chose not to shop online:

    Both buyers and non-buyers said the attribute that would most entice them to shop at a Web site was:

    trust that the site would keep personal information private.

    The security of a retail website is a major concern for online consumers.



  • According to the New York Times, trusting a website is like following a helpful stranger in Morocco, who offers to take you to the best rug store in town.

  • Cyberspace -

    Danger

    Fraudsters

    Scammers

    Criminals

  • AGENDA:


    1.Building Trust Online

    2.Privacy Breaches and Fiascoes

    3.The WebTrust Subset

  • Building Trust Online

    While trust develops over time, web sites must communicate trustworthiness as soon as a visitor enters a site.

    Online trustworthiness is communicated in various degrees by six key elements:

    1.Seals of Approval

    2.Brand

    3&4.Navigation and Fulfillment

    5.Presentation

    6.Technology

  • The Importance of Checkout for Retailers

    Over 40% of failures in buying attempts were due to checkout Fixing checkout alone would save the industry billions of dollars in lost sales and raise conversion rates by 20% Dont offer two equally prominent checkout paths. Its too confusing Design checkout for new customers. Use cookies to remember return customers and present them with a different checkout path Do not require shoppers to register before they can buy Communicate error messages simply and politely Prominently highlight whatever needs to be changed
  • The Importance of Promotions and Merchandising for Retailers

    Promotions and featured products appeal to holiday shoppers Effective promotions and merchandising can significantly raise holiday revenues for many e-commerce sites Communicate special offers clearly and early in the buying process Place featured items above the fold on the homepage Use brands, categories and situational merchandising to suggest products to customers
  • Privacy Breaches and Fiascoes:

    The online world as it really is.

  • Welcome to PrivaGate.com

    Internet Privacy Gateway

    Recent news headlines tell the story Services are needed to

    bridge the "trust gap" between consumers and

    e-commerce web sites!

  • Why Customers Dont Buy


  • WHAT IS WEBTRUST?

    WEBTRUST 3.0

    BennettGold.ca

  • Obtaining a privacy seal should be as basic for someone establishing a web site as coming up with a catchy domain name and hiring a creative webmaster.

    US Secretary of Commerce,
    William Daley

  • The WebTrust Privacy Principle

    The entity discloses its privacy practices, complies with such

    privacy practices, and maintains effective controls to provide

    reasonable assurance that personally identifiable information

    obtained as a result of electronic commerce is protected with

    its disclosed privacy practices.

  • WebTrust Privacy

    Criteria

    Disclosures Policies, Goals, and Objectives Security Criteria that Relate to Privacy Privacy Specific Criteria Monitoring/Performance Measures
  • When (not will) your business

    be affected by Bill C-6 --

    Canadas Personal Information Protection Legislation?

    You Must Comply!!

  • What happens when you click on the WebTrust seal?

    BennettGold.ca

  • ____________________________________________________

    ____________________________________________________

    WebTrust Program for On-Line Privacy

    You have arrived here from a WebTrust certified site. The WebTrust seal symbolizes that this site has been examined by an independent accountant who has issued a report (see below) on management's assertion(s) that the entity's electronic commerce business being relied upon is in conformity with the WebTrust Program for On-Line Privacy.

  • WebTrust Auditors Report

  • Our Assertion

    To be eligible to display this seal of assurance, we had to confirm that we meet or exceed the WebTrust Privacy Principle in conformity with the AICPA/CICA WebTrust Privacy Criteria:

    We disclose our privacy practices for e-commerce transactions, We comply with such privacy practices, We maintain effective controls to provide reasonable assurance that personally identifiable information obtained as a result of e-commerce is protected in conformity

    with our disclosed privacy practices based on the AICPA/CICA WebTrust Privacy Criteria.

  • Our commitment to these principles is on going. In order to maintain the WebTrust seal, every six months an examination will be performed to assess our continued compliance with the AICPA/CICA WebTrust Privacy Principle and Criteria.

    Signed: _______(CEO)_______

    Links:

    AvailableMedia.com. Privacy Assertion

    AvailableMedia.com. Privacy Disclosures

    WebTrust Program (WebTrust table of contents)

    AICPA/CICA WebTrust Privacy Principle and Criteria

  • Consumers

    Online Businesses

    Overview Case Study Getting Started Finding a CA

    About WebTrust

    Sites with seals Related Links Government Affairs Press Room

    Independent Verification

    Survey

    Privacy Policy

    Contact

    .org

  • SITES WITH WEBTRUST SEALS

    BennettGold.ca

  • OFFICAL

    ROCKET ROGER CLEMENS

    SPORTS MERCHANDISE

    "I know that Internet users have a serious concern about giving out credit card numbers. That's only natural. My own family shops online, back in Houston, so I share your concern about security. That's why I'm very happy to say that my site is the first in Canada

    to feature a WebTrust seal.

    BennettGold.ca

  • BennettGold.ca

  • BennettGold.ca

  • CURRENT e-VENTS

    BennettGold.ca

  • Investigation and Security

    e.fraud.survey.2000

    Respondents do not regard internal threats to their e-commerce systems as significant. Access to confidential customer information and denial of service attacks are regarded by respondents as the greatest threats to e-commerce systems. Seventy-three percent of respondents said their companies use encryption technology as a preventative security measure in their e-commerce systems. Despite their concerns about security, a majority of respondents indicated their e-commerce systems are not regularly audited and they have no plan in place to deal with security breaches. Survey respondents said security of credit card numbers and personal information are the two issues of most concern to their customers.
  • WORLD-WIDE HACKER REPORT

    January 14, 2001:

    - U.K. Nuclear hacker fuels security review

    - Hackers attack Brazilian defence ministry

    - Boots condemns site hack

    - Zoom in email security scare

    - Macromedia investigates Flash security

    - Romanian hacker bombs chat network

  • CANADIAN WEB SITES WOEFUL IN PRIVACY: SURVEY

    December 11, 2000

    Half of Canadian commercial Web sites do not have a privacy policy,

    and most that do exist are woefully inadequate, a survey has found.

    E-TAILERS DISCLOSE FEARS OF E-PRIVACY LAW

    December 22, 2000

    Canada's new privacy legislation, set to go into effect the early part of January, 2001, has a number of e-tailers worried about compliance and disclosure issues.

    A recent study of Canadian Web sites indicates most online businesses are not nearly ready for the legislation.

  • DATA PRIVACY FEARS HAUNT INTERNET, US STUDY SHOWS

    OCTOBER 31, 2000

    Almost two-thirds of U.S. Internet users and three-quarters of

    non-users say they fear that going online endangers their privacy.

    PRIVACY WOES SCARING OFF E-SHOPPERS

    SEPTEMBER 18, 2000

    With 61 percent of no-shows in the Internet check-out line citing privacy concerns and advocates making a stand, e-retailers' privacy practices are coming under fire-- again.

  • WEB SITE EXPOSES IKEA BUYERS

    SEPTEMBER 8, 2000

    These days, Ikea is Swedish for giving the world the names of its

    customers. The names, addresses, phone numbers and e-mail addresses of 144,229 North Americans sat exposed on the company's Web site earlier this week.

    TRUSTe BREAKS PRIVACY RULE

    AUGUST 27, 2000

    Non-profit Internet privacy org