"Trust us - your personal information is safe". That's probably the biggest e-business lie, according to Professor Michael Parent.

After reviewing the privacy and security statements of the Top 50, he found that most of them (56 per cent), had no explicit policy statement on their website regarding the internal and physical security of consumers' private information.

More details in his study here.

Despite protecting consumers from hackers, the retailers admit that they track IP addresses, drop cookies into customers' computers, compile usage information and share personal information for fulfillment purposes. And one out of five willingly sold information to third-party marketers for the purpose of solicitation. They also didn't disclose measures employed to protect information from being stolen, or inappropriately accessed by employees, contractors, and other insiders.

The other lies of e-business? People like to shop on the web (They don't - they just hated stores more). The e-business climate is improving (It's not- regulators are just meddling). The future belongs to the young (Even e-businesses needed adult supervision). First-to-market and flawless fulfillment are the keys to e-business success (Yes, but so long as the fundamental business model is sound - which it was not in many cases); and the old rules don't apply to the new economy (They still do, just ask the investors who took a bath in the dot com crash).