6 Common eCommerce Security Threats
We break down the 6 most common threats to consumers buying goods online so you don't fall victim to ecommerce cybercriminals.
Cyber threats are on the rise and are becoming more sophisticated, and there is a need for eCommerce stores to protect themselves. Cybercriminals attack e-commerce sites looking to exploit information and steal money. Understanding the security threats your e-commerce store faces is essential in figuring out the protective measures to take. Here is a list of the most common eCommerce security threats.
1. DoS and DDoS attacks
Several online stireshave incurred losses due to disruptions in their sites and sales because of DoS and DDoS attacks. Your online receives an overwhelming amount of requests from several untraceable IP addresses, which makes it crash, making it unavailable to site visitors.
Phishing is one of the main ways that hackers use to compromise eCommerce stores. This type of social engineering entails stealing login and password details by sending out spam emails under the disguise of a well-known person or organization. They can even create a phishing profile that resembles the login page of your payment processor or e-commerce site and send you a message to log in to fix an error. Once you fall for this and try to log in, they capture your login details and use them to log into the real e-commerce or payment processor sites.
- SQL injections
E-commerce sites that use an SQL database are at a high risk of an SQL attack. The hackers inject malicious SQL commands into the sites’ scripts, which changes how your site reads data, allowing the hackers access to certain commands on your site.
SQL injections target query submission forms as their way of penetrating your website database. They then inject malicious codes on your site, allowing them to add, collect, change, or delete data on your website at will.
Malware results in revenue loss to the eCommerce business. Hackers may target the site server or computers of key people with advanced level access to the site using malware. The malware allows the hackers to control the server and execute commands on the eCommerce site. It allows hackers access to data in the server and access to hijack traffic to your site.
5. Spam emails
Spam email is a major way through which some cyberattacks like malware and phishing are carried out. The spammers usually hack individual or organizational email accounts that you know to send spam emails to make you believe the spam email is legitimate. The emails are linked to infected and phishing sites that compromise the computer's security and compromise the store.
6. Credit and debit card fraud
Identity theft fraud through credit and debit cards fraud is a serious threat, with an estimated loss of $24 billion annually. This happens when someone steals credit or debit card details from unsuspecting victims and then uses those details to make purchases from e-commerce stores. The store goes ahead and processes the order, not knowing the card details are stolen, resulting in lost revenue from a chargeback.
2021 has seen most businesses transition from offline to online operation modes, which translates to increased safety issues. An online business is only as safe as its cybersecurity strategy is. Invest in robust and premium cyber security assistance that fits your needs and budget.