A change has been seen in businesses. Gone are the days when purchase and sales could only be made physically via going to a store. Now businesses are available online on the internet. This change of business being online is referred to as E-commerce. It has led to a significant increase of customers which is around 40 percent within five years and the growth is expected to continue in the near future.
Consumers can get many benefits from using E-commerce, but there are also security risks and challenges if the businesses do not pay attention to, or maintain their cybersecurity.
E-commerce businesses face the threat of cyberattacks. Hackers and cybercriminals can target their networks, customer sensitive data and information, and servers. Around 32.4% cybercrimes are yearly faced by E-commerce. This shows the importance of cybersecurity in E-commerce. The E-commerce businesses need to identify and fix the areas that are vulnerable to cyber-attacks.
Common E-Commerce Security Threats
Cyber-attacks and cyber threats are improving rapidly. Cybercriminals can get an access to your network server and cause harm using different methods. This shows the current need for E-Commerce Cybersecurity. Some of the common E-commerce security threats are:
Scammers mainly targets the customers of an E-Commerce website. It is their private information that is the prime interest of the scammers. That is why, hackers/scammers/fraudsters send fake e-mails and messages to the customers where they pretend to be the E-Commerce website to gather personal and financial details of the customer. The e-mail might contain a link, logo, URLs, or verification request where they might ask the customer to log into their account for verification and confirm their identity.
Hackers can upload malicious software or viruses into your computer system. This can not only disrupt or lock your whole computer system but can also gain access to the customer’s sensitive data and information as well as remove them from your system. Scammers can also use ransomware. It is a form of malware that threatens the business to release the sensitive data and information that it holds if a certain amount of payment demand is not fulfilled.
The personal information from your E-Commerce website can be leaked or its performance can be negatively affected due to spammers. They can do this by sending infected messages and links on your website through comments in the comment and blog section, contact forms, etc. If you click on the link, then it will take you to the spam website. This will make your E-Commerce website vulnerable to malware.
- Cross-Site Scripting (XSS)
It is very dangerous not only for your E-Commerce business but also for your customers. It is a kind of cyber-attack on the E-Commerce website and also on the related sites and the page users. As a result, there is a breach of sensitive information making the customer’s sensitive data vulnerable to malware, spamming, phishing, etc.
The details of your preferences, habits, and behaviors are noticed by the bots that are everywhere on the internet. The scammers or your competitors can use the bots to damage your E-Commerce business. Malicious bots can be sent to your website page to get information about your business and products and then use this information to deteriorate the business.
- DDoS (Distributed Denial of Service) Attack
A DDoS attack is when your server receives massive amounts of requests from different untraceable IP addresses. This causes the server to crash and makes your E-Commerce website unavailable to visitors and buyers. DDoS attacks not only disrupt your E-Commerce website, it also disrupt your sales.
- SQL attack
The query submission form of an E-Commerce website can be hacked. Through this technique, hackers can get access to the backend storage. They send an infected code, then they collect the data from the website and then cover up the evidence and clues.
Challenges of Cybersecurity
With rapid changes in technology and environment, there are new challenges that cybersecurity has been presented with. Here are some of these challenges:
- Remote working
With the growth of remote culture, employees face the challenge of security as they work from home. Due to some reasons, they might accidentally provide access to the organization’s sensitive files to the cyber-criminals. This creates a tough challenge for the companies to maintain a safe hybrid and remote work environment.
- 5G Applications
There have been attempts to adopt the 5G network by consumers and businesses in the whole nation. But to handle a 5G network, one should be properly equipped with its safe use and evaluation. This has increased the cybersecurity challenge of safeguarding user data and privacy.
Blockchain-based systems have a risk of attacks from inside as well as outside. Often, established methods like phishing, data interception, social engineering, and targeting coding errors are used by the attackers.
- Old Fashioned Hardware
Not paying attention to the old hardware of the E-Commerce business can impose the threat of cyberattack on the business. If the old hardware is not updated with the new one for reasons like an additional cost, then the whole E-Commerce business could be vulnerable to cyberattacks. This, in turn, can either harm or decrease the E-commerce business as well as tarnish the business reputation. Serious attacks can even shut down the E-commerce business.
- Serverless computing
Some developers might find serverless computing problematic. It is because of their event-driven nature. It is also because data and information can be stored and maintained in the device even when the serverless functions are not actively running. These devices are also stateless. Those who require persistent data might face challenges using serverless computing.
- Financial Security
Financial security has been a concern of E-commerce businesses from the beginning of internet business. It is because financial fraudsters actively try to get access to the transaction and financial details of the business and its customers which can be a huge threat as well as loss to the business if financial security is not well maintained. There are two most common financial frauds. One is credit card fraud, and the other is fake refund fraud.
In credit card frauds, hackers and cybercriminals steal credit card information and then use this information to buy things in the cardholder’s name. Refund fraud is when cybercriminals file fake return requests.
Cybersecurity Solutions in E – Commerce
Here are some solutions for strengthening the cybersecurity of your E-Commerce business:
- HTTPS and SSL certificate
Using HTTPS protocols will provide you not only security benefits but also other extra benefits. By using HTTPS, the data transfer between the E-commerce website server and the browser of the website visitors and users is secured. This ultimately protects all the other sensitive information like personal details, login credentials, and user data from cyberattacks.
HTTPS also provides protection from Man-in-the-Middle attacks as well as provide SEO ranking benefits. Search engines like Google give priority to websites that use HTTPS which gives the website an upper hand not only when it comes to their non-HTTPS competitors, but also in terms of improved visibility and traffic.
To start using HTTPS, an E-commerce website will require an up-to-date SSL certificate. Comodo is a trusted CA offering cheap Comodo SSL certificates for website security. Keep your online business safe and get the maximum level of security as it supports up to 256-bit encryption and 2048-bit CSR encryption. Getting a Comodo SSL certificate will also be a cost-effective security solution.
- Anti-malware software
Anti-malware and anti-virus software can be installed to protect the E-commerce website from all kinds of malware and virus attacks. This software detects and removes all kinds of infections like viruses, trojans, etc. from the website.
- Secure transactions
Instead of storing the credit card information of clients into the database, hiring a third party such as Stripe and PayPal to handle the payments and transactions would be a better choice. It will provide better safety and security to the customer data, whether personal or financial.
- Server and Admin security
E-commerce website could become more safe and secure if the passwords are frequently changed and user access is restricted. Measures like clearly defining the user role and setting up the security system in which users could get notifications when there is an attempt to access from a foreign IP address can increase the E-commerce website security as well as help in building trust with the customers.
Firewall can help in providing protection from cyberattacks like SQL injection, etc. It can also help in protecting your computer or network from malignant software which can attack your E-commerce website. One can also manage the website traffic regulation through firewall.
- Employee and Client Training
One of the important aspects of the E-commerce business is to provide training to the employees as well as the customers regarding user data handling. To keep them updated about the latest data security measures and steps to help in strengthening cybersecurity. This will further help in securing the data and information of the E-commerce business from cybercriminals.
An important component for the success of your E-Commerce venture is the cybersecurity. Your E-Commerce business should not only have updated security, but it should also have a trained network of teams to provide 24/7 protection to your website as well as your customers. Today, people are finding good career opportunities and possibilities in this growing field of cybersecurity. With the evolution of the digital world and technology, there will be a growing importance and role of cybersecurity.