What Threats Can Ecommerce Face And How To Protect Against Them?
E-commerce is a rising phenomenon. According to research published by Forrester, online purchases are anticipated to reach $523 billion this year, up from $480 billion last year. That’s an increase of 10% compared to the previous year. Online retail is becoming an increasing portion of the economy.
What is eCommerce security?
Ecommerce security is concerned with the measures taken to ensure that purchasing and selling of items and services on the internet is done safely.
When it comes to online security, nowhere is it more crucial than on eCommerce websites. When a user is asked to provide sensitive information such as addresses and payment details, they must be able to trust your site and have confidence that their information will be secure.
With the epidemic speeding up the shift from bricks-and-mortar shops to online commerce by 5 years, eCommerce businesses have seen an increasing number of attacks. The following are the most prevalent security concerns, as well as how to defend oneself against them.
The most prevalent eCommerce security concerns
According to a recent study by the UK government, four in ten businesses (39%) had suffered a data security breach or attack in the previous year. Businesses that rely on digital services or eCommerce are particularly vulnerable to this sort of assault.
Cyber-criminals are constantly searching for new methods to exploit e-retail website vulnerabilities, given that the eCommerce industry is projected to reach $6.54 trillion in sales by 2023 (vs. $3.53 trillion in 2019). The following are some of the most frequent tactics being used.
Phishing is a fraudulent practice in which scammers and hackers impersonate trustworthy entities to deceive people into giving up their confidential information, such as passwords and credit card numbers. Spam emails that appear to be from a business and offer illicit links to phoney websites in order to acquire their login credentials is a popular phishing technique
Malware is a broad term that refers to harmful programs used by hackers to gain access to confidential information or cause damage to a company’s systems. Malware, in the eCommerce realm, is commonly concealed as web skimming, in which fraudulent code is injected into a payment page to steal payment information. Viruses, trojans, ransomware, worms, and adware are all examples of common malware.
Distributed Denial of Service Attacks
DDoS assaults are when a server is bombarded with an abnormally high number of requests from unknown IP addresses, causing it to collapse as a result of the strain. Flooding a website’s server with requests prevents it from functioning and may result in thousands of pounds of income lost.
Brute force attacks
According to research conducted by Varonis, 38 per cent of internet users have passwords that never expire. These passwords are susceptible to attack by malevolent third parties since hackers can constantly try to break weak passwords until they succeed.
If you’re using a shopping cart on an eCommerce site and need to create an account, make sure your passwords are at least secure. They should also employ multi-step authentication to minimize fraud.
Bulldog eCommerce SEO can help keep your online retail business safe from potential threats. They can conduct ecommerce audits to establish fail points on your website.