The online retail market is growing, with sales predicted to surpass $4.5 billion by 2021. Where there is so much money passing through e-commerce websites, payment providers, banks and more, malicious third-party actors are usually not too far behind. Cyber-criminals are getting smarter and are always looking for new ways to exploit any security gaps and vulnerabilities they can. Because of this, there is a need to understand the most common security threats facing e-commerce today so business owners and entrepreneurs can find ways of protecting themselves and their businesses.
A DDOS attack happens when cyber-criminals flood websites with requests from thousands of IP addresses. Depending on the size of the attack, a website might receive thousands or even millions of requests per second from untraceable IP addresses. Even though DDOS attacks used compromised computers and servers in the past, with the widespread use and adoption of IoT devices, they can flood your website with requests from almost any appliance that connects to the internet.
When such attacks happen, they usually leave your website or server vulnerable to other types of attacks such as malware infections.
Businesses should get in touch with their hosting provider to ensure DDOS attack protections are in place, especially during peak seasons.
Credit card fraud remains one of the biggest threats facing e-commerce today. Detecting a fraudulent transaction is often quite hard, especially for websites that handle more than a couple of hundred transactions a day.
The first step customers can take to not be victims of credit card fraud is to ensure all websites they visit are secure. They can tell if they are by checking for the green padlock on the left side of their browser’s address bar.
The second way is to use a VPN. A VPN encrypts all data coming from your device to ensure that even if it is intercepted by malicious third parties, it will be totally useless to them. The best VPN should not keep any of your activity logs and just be a way for you to connect to and transact on the internet. To find a top VPN for your e-commerce transactions, check out Anonymania’s VPN reviews and find the best VPN here.
Bots have been used to attack websites, steal customer information as well as scrap prices and offers on websites. Bots are becoming increasingly sophisticated with some bots able to mimic human actions to avoid detection.
They can be programmed to test stolen card information for CCV data and once this data is in the hands of cybercriminals, the card can be used for fraudulent transactions. They can also steal login data. Once they have data from one website, they can try to log in to other websites using this data which can be quite devastating for the person or people this information belongs to.
There are so many threats to e-commerce. Business owners must, therefore, take steps to protect their customers and we should all also take measures to make sure we are as safe as possible when transacting online.