Social effects of phishing on E-commerce

Electronic commerce brought about lots of business and opportunities for organization and consumers however along came concerns such as phishing. Phishing is one of the fastest-growing internet crimes in recent history. Millions of people are being affected and billions of dollars are getting stolen. Phishing is a technique used to extract personal information from victims by means of deceptive and fraudulent emails for identity theft. As a result of this, the organizations as well consumers are facing enormous social effects. Phishing is causing two-way damage. This paper lists the social effects of phishing to e-commerce and summarizes techniques available that can be used to prevent phishing.