Intensive security measures need to be implemented to obstruct threats effectively and keep transactions protected. Threat #8: Man-In-The-Middle (MITM) Attacks A Man-in-the-middle attack is known to occur when someone with malevolent intent enters into a discussion among two parties, imitates both of them, and get information these two parties are sending each other. These are some of the simple steps that can improve the security of your web store. It’s frustrating, as it shouldn’t be an issue for the individual retailer since essentially, it’s a benefit. There are two strategies they can implement. This action is very much like a fort attacked by an army. Challenges and Threats Organizations Face, 19 Cybersecurity Best Practices to Protect Your Business, Security vs Compliance: Are You Secure & Compliant? The good ones are those that crawl the Internet and determine how to rank your site in search engines. Some of these incidents have involved attacks from a … There are two key approaches to these kinds of attacks. X-Force data indicates incidents involving e-commerce threats have increased nearly 400% since 2018. It is also probable that the man-in-the-middle has made a site that looks very similar to the website of your bank, so you would not falter to enter your authorizations and confidential information. Login. Online shoppers must know that when they get emails, they know how to recognize them as legit. Ecommerce. You can also get automatic backup service so if you forget to do the manual backup, all of your data will be automatically backed up. The first step to building a sustainable shield is getting acquainted with the types of threats you could be subjected to and their sources. 1. Phishing is difficult to prevent because it’s such a broad category, and it involves no force. Vast amounts of money change hands online with each passing second, and as much as we’d like to think that technology has moved past transactions being dangerous to consumers, it hasn’t. Payment Gateway Security It is just as serious as web hosting, it is significant to ensure that your payment gateway provider is taking the security seriously and guarantee all third-party sites linked to yours, puts security first. And lastly, get into the habit of using high-quality passwords, and configure multi-factor authentication to prevent the entire site from being compromised as the result of a critical password being left on an office post-it note. There are different types of malware that want to penetrate the backend to steal sensitive site data and customer information. If you choose long and complex passwords, you can end up forgetting them and losing all access. | Category by  Backup & Security. Online shoppers are now aware of the importance of website security markers, such as the HTTPS indicator. Also, it offers you an ownership certificate so your site can not be accessed by any hackers as a phishing counterfeit. They use complicated procedures to flag any spiteful transactions that can help to take some timely action. As a consequence, you lose a large customer base to the competitors. Now that you’re familiar with eCommerce security concerns, and how costly they can be to the bottom line and reputation. It will keep your website busy, so it can’t focus on the visitors that really matter to your business. They can also pose as retailers through social media or set up stores that appear very similar to legitimate sites by using slightly-different URLs and steal data. This is usually happening when websites integrating user-inputted text directly in a SQL query and running this query against their database. Also, security threats … The industry experiences up to 32.4% of all successful threats annually. The success of the e-commerce industry has attracted more cybercriminals to exploit the gaps in online security. There are many security plugins that come with built-in firewalls. Customers will lose his/her faith in e-business if its security is compromised. The most common security threats are an electronic payments system, e-cash, data misuse, credit/debit card frauds, etc. Also known as SQL injections, these cyber-attacks want to access databases via query forms. If in case a man-in-the-middle situation occurs to your site, the man in the middle can send you an email, that would look genuine. Security threats in E-commerce. Not to mention, the E-commerce industry has become really profitable for the past few years and it is estimated to reach $4.5 trillion by 2021. These are known to be malevolent bots whose major target is to stop clients from shopping products from a specific e-commerce store. In this article, I will be mentioning some of the major e commerce security threats and solutions that every e-commerce business should be aware of. Most common e-Commerce security threats 1. Credit Card Frauds. They want to figure out the password and gain access, the directness of the attack makes it brute-force. Be sure to use a well-established ecommerce web hosting company you can trust and has top-level security features. E-commerce threat is occurring by using the internet for unfair means with the intention of stealing, fraud and security breach. Always back up data and do this regularly. They defend sites DDoS attacks, malware, and hacking, keeping you informed when threats are detected in real-time. For retailers, the best method to avoid phishing to teach their buyers about how they function. Malicious JavaScript coding is the most common. PCI Security Standards Council releases a strict set of guidelines on how to secure an eCommerce website. Customers should know what they have asked for and what will never be requested of them by the company. For this reason, the appropriate measures must be taken, and strategies put into place to address them. E-commerce security threats are causing havoc in online trading. Tags: ... Companies that fail to give enough attention to cyber security are the most likely to be targeted for this type of attack, because criminals actively search for vulnerable systems. When security is not up to the mark, it poses a very dangerous threat to the networks and systems. Secondly, they should start using multi-factor authentication for their admin accesses (or for major changes to customer accounts). Significant alterations can be made, systems can be taken offline, data can be stolen, and money can be transferred, all with minimal risk to the person with access. Many big online e-commerce companies have realized the need for advanced threat protection and they are making their efforts to keeps the hackers away. After all, they know what’s at stake. The motive is simple: most of us will not bother to check our bank-records, and it just takes a lapse in attention for a cyber-criminal to make several payments. Those who want to put your e-commerce store under blockade will program numerous internet-capable devices to use your online store website. Hackers and bots may go digging around your site for access to your own company’s data, too. It is very much like getting into someone’s house– there may be no damage apparently, but it occurs when you are at home. While phishing is a passive approach, eCommerce sites can sometimes be subjected to direct attacks in the form of DDoS (dedicated denial of service) campaigns. You have to assign proper funds for regular security checkups or anti-virus software, otherwise, there will be data security threats around the corner, ready to attack your site and systems. The exponential growth rate of e commerce has far surpassed mainstream security measures. As scammers are getting smarter by the day, credit card scammers are using different means, including phone calls, emails, credit card skimmers, and Wi-Fi hotspots, to … Threat #2: Brute Force Attacks A Brute Force Attack is the simplest method to access a server or website (or anything protected by password). Any business related to eCommerce that wants to make their transactions secure (and boost its reliability in the process) must take some action to meet it. As a business owner, it’s important to take information and data security seriously—not only for your sake, but for your customer too.E-commerce has earned its place as the top choice for consumers looking to beat the mall crowds and find the best deal as it has become more convenient to make purchases online. Content Manager at phoenixNAP, she has 10 years of experience behind her, creating, optimizing, and managing content online, in several niches from eCommerce to Tech. Thanks to the presence of pop culture, it’s easy to call to mind the image of a hacker tapping away maniacally on a keyboard to force their way into your website. One is brute forcing, using a running program that put different combinations of passwords to eventually getting it right. Inaccurate management-One of the main reason for e-commerce threats is poor management. Viruses are usually presented in the system via external sources. The EC Security Environment: The Scope of the Problem
In 2002 Computer Security Institute survey of 503 security personnel in U.S. corporations and government
80% of respondents had detected breaches of computer security within last 12 months and suffered financial loss as a result
Only 44% were willing or able to quantify loss, which totaled $456 million in aggregate