As e-commerce revenues have mounted in recent years, so have losses from security breaches and legal problems. The present study conceptualized e-commerce activities focused on gains versus loss prevention in terms of regulatory focus theory. Professional preparation provided in 163 e-commerce master's programs worldwide was investigated using propositions derived from the theory. Data were collected using extensive Web searches of master's program curricula. Results suggested that a majority of the programs lacked courses in the prevention-focused topics of law, security, or ethics. As e-businesses increasingly face the threat of costly legal and security incidents, it appears necessary for e-commerce education programs to place greater emphasis on prevention-focused topics.