The same laws apply to large online business also apply to small business. Smaller companies might not be able to enter the market if the risks are too great. Consumers should retain a reasonable amount of responsibility for properly using what protections already exist. Consumer protection laws should be limited and reasonable, and balance responsibility between companies and consumers so that each are encouraged to act responsibly. Self-regulation by financial service providers has proven effective.
Banks already have significant experience with e-commerce and fraud management.
They have developed online fraud detection systems as part of their credit card businesses already. The use of digital signatures, if properly implemented, will serve to enhance our existing ability to prevent fraud in an online environment. Development of the Global Electronic Marketplace 25. Global e-commerce is expected to grow exponentially over the next five years. Consumer transactions over the internet will become commonplace.