Managing Legal, Consumers and Commerce Risks in Phishing

Phishing scheme is a new emerged security issue of E-Commerce Crime in globalization. In this paper, the legal scaffold of Malaysia, United States and United Kingdom are analyzed and followed by discussion on critical issues that rose due to phishing activities. The result revealed that inadequacy of current legal framework is the main challenge to govern this epidemic. However, lack of awareness among consumers, crisis on merchant’s responsibility and lack of intrusion reports and incentive arrangement contributes to phishing proliferating. Prevention is always better than curb. By the end of this paper, some best practices for consumers and corporations are suggested. Keywords—Phishing, Online Fraud, Business risks, Consumers privacy, Legal Issue, Cyber law.