“Thus, in the future, instead of buying bananas in a grocery store, you could go pick them off a tree in a virtual jungle.”- Yasuhiro Fukushima, Japanese business executive. The technology is changing daily, creating a continuous stream of new causes of action. Business becomes worldwide due to cost competitiveness and natural advantage that country has. Interdependency is mantra of modern business. E-commerce is a type of business model that conduct its operations/ dealingsof exchanging of goods and services or the transmitting of funds or data or terms of sale are performed over an electronic network. Today E-commerce provides tremendous opportunities in different areas of economic life.Wide spread use of ICT has opened the doors for developmentsin the field of business. E-business retail is decidedly convenient due to its 24-hour availability, global reach and generally efficient customer service. Its growth would depend to a great extent on effective IT security systems for which necessary technological and legal provisions need to be put in place constantly and strengthened instantly.