Final answer:
Data theft in e-business transactions is indeed considered a larger problem than direct monetary theft. It can lead to identity theft with severe financial implications, and it also has broader effects on national security and institutional trust.
Step-by-step explanation:
Data theft is indeed a significant issue in e-business transactions, often more so than direct financial theft. This is because data breaches can lead to identity theft, where wrongful acquisition and use of personal identification lead to devastating financial losses, including drained savings accounts and huge credit card debts.
Moreover, there is a broader impact on national security, election interference, and overall trust in institutions. As we increase our digital footprint, we also enhance our exposure to risk; and given the large-scale data breaches at well-known companies, it is clear that the problem of data theft is serious and widespread.
Identity theft, also known as 'True-name fraud,' can result in thieves making large purchases, which indirectly leads to monetary loss. However, the effects of data theft are more far-reaching, potentially impacting national security and personal privacy.
This loss of privacy can lead to power shutdowns, election interference, and diminished trust in banks, hospitals, and governments. Therefore, while both data theft and financial theft are significant concerns in e-business transactions, the scope and long-term implications of data theft can be particularly severe.