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Who Do You Trust?

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:

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Who Do You Trust?

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  1. BennettGold.ca Who Do You .comTrust? Robert Y. Gold, MBA, CA, Managing Partner January, 2001

  2. INDUSTRY PRIVACY FAILURES HURTING E-COMMERCE Concerns over privacy continue to hamper e-commerce. Jupiter Communications found: • 64 percent of respondents don’t 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.

  3. Consumer fears are proving to be deep and complex: • It’s 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.

  4. 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.

  5. 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”.

  6. Cyberspace - Danger Fraudsters Scammers Criminals

  7. AGENDA:1. Building Trust Online2. Privacy Breaches and Fiascoes3. The WebTrust Subset

  8. 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

  9. 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% • Don’t offer two equally prominent checkout paths. It’s 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 Checkout for Retailers

  10. 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

  11. Privacy Breaches and Fiascoes:The online world as it really is.

  12. 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!

  13. Why Customers Don’t Buy

  14. WHAT IS WEBTRUST?WEBTRUST 3.0 BennettGold.ca

  15. “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

  16. 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.

  17. WebTrust Privacy • Criteria • Disclosures • Policies, Goals, and Objectives • Security Criteria that Relate to Privacy • Privacy Specific Criteria • Monitoring/Performance Measures

  18. When (not will) your business be affected by Bill C-6 -- Canada’s Personal Information Protection Legislation? You Must Comply!!

  19. What happens when you click on the WebTrust seal? BennettGold.ca

  20. ____________________________________________________ ____________________________________________________ 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.

  21. WebTrust Auditor’s Report

  22. 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.

  23. 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

  24. .org Consumers Independent Verification • Online Businesses • Overview • Case Study • Getting Started • Finding a CA Survey Privacy Policy • About WebTrust • Sites with seals • Related Links • Government Affairs • Press Room Contact

  25. SITES WITH WEBTRUST SEALS BennettGold.ca

  26. 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

  27. BennettGold.ca

  28. BennettGold.ca

  29. CURRENT e-VENTS BennettGold.ca

  30. 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.

  31. 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

  32. 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.

  33. 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.

  34. 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 organization TRUSTe allowed an outside company to track visitors to its Web site without visitors' permission or knowledge, said Interhack, a Internet security firm.

  35. PRIVACY SUIT TARGETS NETSCAPE • JULY 25, 2000 New Jersey-based website operator has filed a class action lawsuit charging that AOL/Netscape's Internet software violates electronic privacy law.

  36. WHITE HOUSE ADMITS PRIVACY BREACH • JUNE 30, 2000 • The White House acknowledged on June 21/2000 that its own anti-drug office's Web site may have been collecting personal data about visitors in violation of federal policy.

  37. FTC GIVES UP ON NET SELF-REGULATIONMAY 23, 2000Finding Internet privacy to be sorely lacking, the U.S. Federal Trade Commission released a 200-page report recommending to Congress that new legislation be adopted to protect consumers’ privacy online.FTC FINDS E-COMMERCE SITES FAIL TO GUARD CONSUMER PRIVACYMAY 11, 2000A survey of major e-commerce Web sites by the Federal Trade Commission found that only about 20 percent met US Federal Trade Commission (FTC) standards for protecting consumer privacy.

  38. DE BEERS SECURITY HOLE REVEALS CUSTOMER INFORMATION MAY 4, 2000 About 35,000 customer email and home addresses were exposed on Adiamondisforever.com, an informational site about diamonds sponsored by De Beers, CNET News.com has learned.

  39. AN ASTONISHING SECURITY BREACH • APRIL 21, 2000 • There is at on my Web browser. A list of 1,000 credit card numbers. And the name of the owner, where he or she lived, and their phone number. • CANADIAN FIRMS ILL-PREPARED FOR INTERNET WAVE JANUARY 10, 2001 Canadian companies remain unprepared for the coming wave of Internet-based business transactions despite predictions that by 2005, nearly one-fifth of all business-to-business transactions will be conducted electronically

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