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Sources and Solutions of Revenue leakage in E-commerce
due to Cyber Frauds and System/Support failures
[1] Domb Menachem
Professor, Computer Science,
Ashkelon Academy
Ben, Zvi, Ashkelon,
Israel
+972-55-8835886
dombmnc@edu.aac.ac.il
[2] Joshi Sujata
Professor, Symbiosis Institute of
Telecom Management,
Constituent of Symbiosis International
(Deemed University),
Pune, India
+91-020-39116170
sjoshi@sitm.ac.in
[3] Modi Rageshree
Student, Symbiosis Institute of
Telecom Management,
Constituent of Symbiosis International
(Deemed University),
Pune, India
rageshree.modi@sitm.ac.in
ABSTRACT
E-commerce sector has been the most promising one since its
inception in the 1970’s. E-commerce ecosystem is a complex
arrangement of different tools and systems making the entire
system full of complexities. The higher the rate of a complex
system in any business operations, the higher are the stakes of risk.
The E-Commerce sector is no exception and is constantly barraged
by risks due to strategic, operational, and financial hiccups. The
Internet has not only accelerated the E-Commerce ecosystem but
has also given a new set of threats which requires dynamic
detection and Fixes. The major challenge faced by this sector is
related to a risk of revenue loss due to revenue leakages in network
/system security and cyber frauds. Hence the objective of this paper
is to explore sources of revenue leakages happening because of
cyber frauds and technical failures and proposes probable solutions
to mitigate the revenue loss.
Keywords: E-Commerce; Revenue Assurance; Revenue
leakages; Cyber side; Systems Technical side.
1. INTRODUCTION
E-commerce sector has been the most advancing businesses in
terms of ease-of-doing-business, customer experience, product
service lines etc. Since its inception in the 1970’s.the unique quality
of shopping-at-ease, has served as the groundwork for the growth
of E-commerce. Small businesses have flourished owing to e-
commerce, serving a platform to reach customers and explore new
markets. The industry has witnessed constant evolution as newer
technologies bring newer opportunities and better customer
experience. Personalization, handy user interface, quicker delivery,
vast product categorization and ease of shopping have increased the
buying appetite of customers. As per a report, the average retail e-
commerce revenue per user in India is projected to grow to 147.35
US dollars in 2021. (Statista, 2018) [1]. E-commerce ecosystem is
a complex arrangement of different tools and systems like e-
commerce website and platform, CRM system, Inventory
management system, Shipping software, Payment gateways,
Online marketing tools, and Accounting software. (Chan, D. 2015)
[2]. The over dependence on an automated system in e-commerce
comes with its own set of complexities. The risk for a data breach,
security breach, and network failure directly hampers the
performance of e-commerce brand and aid in revenue losses. The
modern-day fraudsters are one step ahead in finding system
loopholes and targeting such flaws to extract value, data and
identity. Fraudulent activities are estimated to cause $2.1 trillion to
global economy by 2019. (Olenski, S. 2016) [3]
Objective of the paper:
The infiltration of fraudsters and system failures in the e-commerce
sector has been an emerging concern for the industry and global
economy. Hence the objective of this paper is to explore sources of
revenue leakages happening because of cyber frauds and technical
failures and proposes probable solutions to mitigate the revenue
loss.
2. LITERATURE REVIEW:
2.1 Revenue Assurance:
“Revenue Assurance as a continuous endeavor aims at improving
operational efficiency and ensuring that all possible revenue is
collected”. Deloitte (2017) [39] Revenue assurance can be defined
as a process of identifying, preventing and taking remedial action
of all those problem areas/processes in an organization which result
in underperformance and result in loss of revenues indirectly.
Research has proven that almost 50% of the leakages identified in
an organization are not recovered thus resulting in “lost revenue”.
Thus, revenue assurance can be considered as an audit process
which helps in identifying and controlling revenue leakages by
ensuring that all processes are policies are fool-proof without any
chances of revenue leakages.
2.2 Importance of revenue assurance in a digital economy:
Organizations today are becoming more and more digital and
therefore more and more reliant on cloud services, websites and
networks for their day to day operations. At times these digital
services fail due to network failure, hardware/software systems
crashing, electricity failure etc. Apart from these unavoidable
systems failures sometimes organization operations can be
disrupted due to occurrence of cyber frauds since most operations
are digital in nature.
Cyber criminals can hack the company systems if the network or
the system is weak and not very secure. They can do cyber frauds
by multiple means for example by resorting to codes which make
the website unusable. They can make service attacks making
websites inaccessible to customers as well as employees. They can
release viruses or worms etc. in the hardware/drives making critical
information inaccessible.
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Ecommerce industry is also highly dependent on web devices as
the business in online. As a result, the number of cyber and systems
related frauds taking place in this industry is also increasing rapidly
leading to revenue loss due to such fraudulent transactions. As per
the data recorded by ACI worldwide for the year 2017 the attempts
at frauds increased by 31% during Thanksgiving in the year 2016-
2016 [40].
Hence it is essential that organizations make a serious attempt at
mitigating the cyber and systems related frauds and try to curb the
revenue losses resulting
2.3 Cyber Fraud and System Failures:
As per a research, cyber fraud/cyber-crime is a fraudulent activity
which involves a computer and a network, where the crime may or
may not be governed by the computer. (Mirea, V et al, 2011) [4].
Another research explains cyber-fraud as an unscrupulous activity
by an individual to gain value from people illicitly over the Internet.
(Albrecht W. Steve et al 2016) [5]. As per a study by J.H Berk and
Associates, a system failure can be explained as an occurrence
where a system fails to meet its operational requirements (Berk,
Joseph H. 2018). [6] In E-commerce, almost all the transactions
take place over the Internet. The digital ecosystem in e-commerce
has encouraged many new types of business models. These
advancements have involved new participants on an e-commerce
platform, surpassing the simple: business-to-customer model. The
stakes to maintain security have also increased. The humongous
amount of customer data has been a target for many identity
thieves. Many studies and research have been done on cyber threats
in the e-commerce industry. A research done on e-commerce cyber-
security, discusses various security issues, the purpose of security
and aspects of third party risks in e-commerce (Maurya, S et al,
2016). [7] Another study explores different types of cyber-attacks
on SME(Small and Medium Enterprises), highly involved in E-
commerce transactions (Sharma, Kunal et al 2009).[8] Further a
study done on E-commerce Risks and failures, describes in detail
the different types of system failures like Database Server failure,
cache server failure, human error on the retailer side and customer
side, billing system failure, and system security failure (Vilangadu,
G 2003).[9] These researches have given a basis for future studies
and solutions to many risk situations occurring in an E-commerce
environment. Hence, we feel there is need to understand in detail
the revenue leakage in E-commerce sector from the perspective of
Cyber side and Systems side. Following research questions were
formulated:
1) What are the sources of revenue leakage in the E-Commerce
sector in the areas of Systems and Cyber side?
2) What is the impact of these revenue leakages on the E-
Commerce companies?
3) What are the probable solutions to Revenue Leakage in E-
Commerce in the abovementioned areas?
3. SOURCES/AREAS OF REVENUE
LEAKAGE IN THE E-COMMERCE
COMPANIES:
This section deals extensively with the sources of revenue leakages
in the E-Commerce companies, uses cases, the impact of such
revenue leakages on the company and probable solutions for
mitigating such revenue losses. There may be many sources of
revenue leakages as far as E-Commerce companies are concerned.
This study concentrates on the two major sources of revenue
leakage in the following areas: (1) System side (2) Cyber side.
3.1 REVENUE LEAKAGES ON SYSTEM AND SUPPORT
SIDE:
This sub section deals with three major sources of revenue leakage
on the system and support side, use cases, impact of such leakages
to the company and probable solutions for resolving the same. The
three major sources discussed in this section are (a) Performance
(b) Security (c) Customer services.
Use cases, Impact and probable solutions of revenue leakages on
Systems and Support side:
3.1.1 Performance:
E-commerce websites are becoming more complex owing to high-
definition visuals, interactive content and other integrations. The
performance of websites determines how long a customer is
continuing and how often the engagement leads to conversion.
Use case 1: Internet downtime:
The most famous case of internet downtime was observed in June
2007, when Amazon.com crashed for roughly two hours. This
downtime is estimated to have cost around $3.48 billion
(Emitel.com 2017). [10]
Impact: A website downtime can lead to 100% loss of site visitors.
The reputation of an e-commerce company is affected if there are
frequent downtimes encountered by a visitor (Pingdom Report,
2016). [11]
Probable solution: To mitigate the chances of downtime, owners
should choose a hosting company which provides back-up servers
in case of a crash.
Use case 2: Zero result search terms:
While a customer is looking for a product he searches on search
engines. The search engine redirects the customer to his desired
product search on the e-commerce site, but he is finally unable to
find that product. This kind of mismatch is termed as zero result
search terms (The Times of India, 2015). [12]
Impact: According to a study, 9 out of 10 visitors are lost if a
website fails to load within 2 seconds. If a user receives a zero, or
no result for his search then there is a high risk of site abandonment.
Probable solution: To reduce the chances of site abandonment due
to zero search results, search boxes with similar search suggestions
should be implemented for example something like Amazon’s
search box which is wide and enables users to search details like
model number or color of a product (E-commerce & B2B 2018).
[13]
3.1.2 Security:
E-commerce security deals with safe electronic transactions,
maintaining user data privacy, preserving integrity of the company
and sustain authentication for buyers as well as sellers.
Use case 1: Virus attacks: A virus can hamper e-commerce
websites by infiltrating the servers and networks and rupturing the
entire system which can lead to website downtime and indirect loss
of revenue (R. Priya et al 2016). [14]
Impacts: Virus attacks may result in losses in terms of revenue,
customer data, sales and conversion rates.
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Probable Solution: To reduce the chances of virus attacks on e-
commerce sites, multiple layers of protection should be installed. A
Firewall can stop attackers to disrupt the network and attain
sensitive information.
3.1.3 Customer services
Customer support plays a very vital role in customer
retention, conversion rates, customer experience etc. An
unsatisfied customer, returning from a bad experience with
customer service executive becomes comparatively more difficult
to re-engage in future.
Use case 1:
Customers even abandon the purchase, due to poor customer
support system. As per a study, 40% of customers switch to
competitors as they provide great customer services (Zen desk Blog
2018) [15]
Impact: A bad experience with the customer service team is enough
to create a bad reputation for the Brand. As per a survey, 95% of
customers are likely to share a bad experience with the customer
support team. And 52% of customers discontinued buying after a
bad customer service experience (Zen desk Blog 2013). [16]
Solution: To improve customer support experience for the
customers, a CRM system can be implemented to enable the
customer service associates to respond quickly and give a better
detailed solution to customer’ concerns. To improve the quality of
customer services, customer surveys can be conducted to identify
the problems leading to bad customer service experience.
3.2 REVENUE LEAKAGES ON CYBER SIDE:
This subsection deals with four major sources of revenue
leakage on the Cyber side, use cases, impact of such leakages to the
company and probable solutions for resolving the same. The four
major sources discussed in this section are (a) Account takeover,
(b) Credit cards, (c) Malware, (d) Pharming.
Use cases, Impact and probable solutions of revenue leakages on
Cyber side:
3.2.1: Account Takeovers:
E-commerce domain is largely falling back because of account
takeovers/identity theft. It can be simply stated as an unauthorized
access and control of another user’s personal information online.
Use case 1: Identity theft:
eBay, an e-commerce corporation facilitating consumer-to-
consumer and business-to-consumer sales, encountered an attack
where a small number of employee log-in credentials were
compromised initially. These details further gave access to eBay’s
corporate network. On further investigation, customer database
which included customer’s name, encrypted passwords, email
address, physical address, phone number and date of birth were
compromised (eBay Inc. Staff, 2014). [17]
Probable solution: To reduce chances of account takeovers, the
merchant should comply with the Payment Card Industry’s Data
Security Standards (PCI-DSS). This compliance ensures the safety
of data for e-commerce retailers and customers (Wong, V. 2017).
[18]
Use case 2: Value extraction:
Hackers target a bank account with a large value and clear it in a
single purchase. While purchasing from an online site, Debit cards
are often used by customers. Value extraction fraud can be easily
targeted to such customer accounts purchasing by debit cards as it
is directly linked to customers bank account. Such an attack was
experienced by Starbucks, an American coffee company, when one
of its customers received a receipt for reloading $100 in Starbucks
mobile app, from the saved credit card. Further, the fraudster made
3 purchases ($48.32, $49.785 and $15.83) at a Starbucks outlet
(Christensen, Brett M. 2015) [19]
Probable solution: Enable a 2 Factor Authentication while logging
in.2 Factor authentication provides an extra security cover by
prompting the user to enter credentials like credit card number,
password or pattern, biometric like a fingerprint or voice print
(Merch Act, 2017). [20]
Use case 3: Phishing:
Phishing in e-commerce has been the source of losses for both
customers and sellers. Fraudsters target the e-mails between buyers
and sellers and then redirect shipments and payments. eBay users
received emails quoting that their eBay account is not verified and
prompted to click on “confirm your registration” link. After
clicking the link, a fake eBay login page appears where the user is
asked to enter his login with user id and then taken to a page which
further prompts the user to fill in the credit card number, name and
address details. This email was not sent by eBay but by a scamming
group (Seth, R., Jason, and C.2015). [21]
Probable solution: To reduce phishing attack, e-commerce owner
should rely on credible vendors who provide services like data
storage, POS maintenance and payment processing. Such vendors
should adhere to PCI-DSS standards, 2-Factor authentication and
implement advanced encryptions (Wright, K. 2018) [22]
Impact of Account Takeover leakages: In the eBay breach, only
85% of affected customer accounts were reset and the company lost
some of its buyers.
3.2.2: Credit cards:
A stolen credit card can be used to carry multiple fraud transactions,
holding threat to both buyers and sellers. As per October 2016
Nilson Report, Card fraud losses reached $21.84 Billion (The
Nilson Report, 2016). [23]
Use case 1: card not present frauds:
Fraudsters collect credit card information like cardholder’s name,
billing address, account number, 3-digit security code and card
expiration date, online through phishing or by stolen cards. These
kinds of frauds majorly cause losses to e-commerce merchants
(Buonaguidi, B.2017). [24]
Impact of such sources of revenue leakage: eBay lost over 40 orders
during the triangulation scam by stolen credit card details.
Probable solution: To safeguard the website against card-not-
present transactions, implement an Address Verification System
(AVS). AVS checks if the address and zip code entered during
order placement matches the address recorded at the card issuing
bank.
Use case 2: Triangulation scheme:
This kind of fraud can cause severe losses for multiple e-commerce
owners. The fraudster purchases a product from one site and sells
it to an individual on the second site as a seller. The transaction
might have taken place from a stolen card and the first e-commerce
merchant suffers as he accepted the payment and the fraudster
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request a chargeback for the product he falsely claimed as not
received (EKN Research, 2017) [25]. eBay experiences such kind
of fraud in its auction where an auction fraudster creates his own
account and sells the product to the auction winner. He buys the
product from another retailer using a stolen credit card data (Krebs,
B. 2015). [26]
Probable solution: Triangulation can be prevented by keeping track
of transactions from a seller. To track the transactions merchants
should use screening algorithms which shall identify a default in
the pattern based on the historical data (Bhatla, T., et al 2003). [27].
3.2.3: Malware:
Emerging technological solutions aid in the functioning of e-
commerce workspaces but this also makes it vulnerable to many
non-human frauds. Malware are malicious codes which target
servers, network and IT Systems (OECD/OCDE Report, 2008).
[28]
Impact: As per a research conducted in the U.S, 40-70% of ad
injections via malware are competitor’s advertisements (Total bank
Blog, 2018). [29]
Use case 1: Spyware:
Spyware is malicious software targeting user’s data on e-commerce
sites. It can collect user data like internet surfing pattern, user logins
and even bank and credit card details. It can also change computer
settings leading to slow internet speeds (Total Bank Blog (2018).).
[30]
Probable solution: To reduce malware vulnerabilities, “trust mark”
security services like TRUSTe, McAfee etc. should be employed.
This method scans the system daily and detects malware intrusions
(Elliott Roxana, 2017). [31]
Use case 2: Backdoor:
A backdoor is a method of allegedly accessing a computer system
that bypasses the system’s security mechanisms. A Developer may
create a backdoor for troubleshooting whereas attackers often use
backdoors to introduce malware in the system. A Dutch website
developer used backdoors in e-commerce sites and stole login
details of more than 20,000 users. (Broersma, M. 2017). [32]
Probable solution: Encryption with SSL (Secure Socket Layer)
known as HTTPS should be enabled. SSL is a standard security
protocol for encrypting all the communication between a web
server and a browser.
Use case 3: Bots:
Bots can be programmed to perform various activities like Price
scrapping, Login frauds, holding items in carts and incorrect
analytics. Bots can add items to cart and limit its inventory, creating
a “sold out” option for actual customers. Bots can modify analytical
data like page views, bounce rate, conversion rate, etc. thereby
affecting conversion rates and investments in SEO campaigns
(Elliott, R.) [33]. In 2007, eBay was targeted by scammers who
injected bots on users’ systems while visiting a hacked website.
These bots track log-in details of eBay users and then gain access
to personal and financial data (Spamfighter News, 2017) [34]
Probable solution: To detect and reduce Bot attacks, a tool like
Intrusion Detection System (IDS) should be used. IDS is a software
or device that keeps a track of networks and systems for malicious
activities. Further, an IDPS (Intrusion Detection and Prevention
System) which detects, notifies and prevents a threat should be
implemented (Veracode, 2017) [35]
Use case 4: Pagejacking/journey hijacking
Customers are often distracted during their entire buying journey
by many pop-ups, banner ads, competitor product
recommendations etc. These distractions are controlled by digital
malware running on customer browsers and devices or even pushed
by Wi-Fi networks. This is termed as journey hijacking. Here
neither e-commerce retailer, not the customer is aware of the
intrusion of malware (Chemi, K.2017) [36]
Asics, the Japanese sports apparel giant, observed that 12% of its
website sessions were infected by ads which led to competitor sites.
This ad disrupted the customer journey on Asics’s site (Forte,
D.2018) [37]
Probable solution: To reduce pagejacking and journey hijacking,
merchants should opt for fraud detection and prevention service
providers using machine learning algorithms. This algorithm
monitors millions of web sessions on a regular basis via server all
the way to customer’s browser and identifies malicious web
activity by pattern analysis (Greenshpan, O. 2018). [38]
3.2.4: Pharming:
Pharming is the combination of “farming “and “phishing” wherein
the website’s traffic is redirected to another targeted website. E-
commerce owners use this method by redirecting the customers
from there competitor’s website (Totalbank Blog, 2018). [30]
Impact: Pharming can drive away user traffic from a merchant’s
website to a competitor’s website. This can lead to customer
journey hijacking and thereby decrease conversions on the website.
Solution: To track millions of transactions, owners should use
machine learning techniques which analyzes the transactions and
identifies fraudulent purchase patterns.
4. CONCLUSION
The objective of this study was to understand the sources of revenue
leakage in the E-Commerce sector in the areas of Systems side and
Cyber side and propose a conceptual Revenue Assurance model to
curtail these revenue leakages. The study focusses on 2 major areas
of revenue leakage viz. System and Support side and Cyber frauds.
The paper discusses the use cases of revenue leakages in the
abovementioned areas, impact of such leakages to the company and
probable solutions for resolving the same. This study will be
beneficial to the E-Commerce companies to identify areas of
revenue leakage in their company and how it can be resolved.
Secondly it can be beneficial to consulting companies to understand
the sources of revenue leakages and fraud management in E-
Commerce companies who can be part of their clientele. The paper
can also be useful to solution developing companies who are into
Artificial intelligence, fraud management solutions, cyber security
etc. to develop solutions to the various revenue leakage problems
faced by the E-Commerce companies.
5
Figure 1: Revenue Assurance Model for the E-Commerce
Industry: Sources of revenue leakage Areas of Systems side and
Cyber side, Use cases and the probable solutions for the same.
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