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The Electronic Commerce Act (ECA) or Republic Act No. 8792 was
signed into law on June 14, 2000.
Objective
This Act aims to facilitate domestic and international dealings,
transactions, arrangements, agreements,contracts and exchanges
and storage of information through electronics
Effects on social and ethical significance
UNRELIABLE
PayPal proved to be unreliable, as users put
their confidence and trust in this company ,
while later on, they could easily become a
victim of false transactions and money
transfers.
If hackers obtain enough data (Login information and credit card number),
they basically provide the service enough authenticity to log in and use your
account.
You can use online payment services and by keeping your firewall
on, it could also prevent any more future access to your computer
and the information you have stored in it.