Can U.S. Commerce Dept Boost Facebook Shopping?
What effect will the U.S. Department of Commerce's new voluntary proposals to strengthen e-commerce security have on Facebook?
The U.S. Department of Commerce’s Internet Security Task Force is calling for voluntary codes of conduct to strengthen the cybersecurity of companies — across all industries and sectors — that rely on the Internet to conduct business, including social networking sites such as Facebook.
The proposals could have big implications for Facebook.
Global online transactions are currently estimated by industry analysts at $10 trillion annually while the threat of cybersecurity attacks grow. Last year alone there were 55,000 estimated malware attacks and viruses circulating the web.
With Facebook offering more commerce-related tools and applications almost daily, and shopping on the networking site expected to rise sixfold by 2015, making the social network a safe place to conduct business is critical.
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