The internet has changed the way we do business and has made it possible for anyone to set up an online store. Online stores make it easy for customers to find and purchase products without having to visit a physical store. However, with the increase in online shopping, there has also been an increase in eCommerce security threats.
What are e-commerce security threats?
eCommerce security threats are any type of threat that can compromise the security of an online store. These threats can come from a variety of sources and result in the loss of data, money, or even the shutdown of the online store.
According to a report by Juniper Research, data breaches are expected to cost businesses $206 billion from 2021 to 2025. This increase is due to the growth of eCommerce and the rise in cyber attacks.
Top 6 eCommerce Security Threats
There are many different types of eCommerce security threats, but some are more common than others. Here are the six top eCommerce security threats:
1. SQL Injection
One of the most common eCommerce security threats is SQL injection. An SQL injection attack is when a hacker inserts malicious code into an SQL database.
This code can then be used to access sensitive data, such as customer credit card information. SQL injection attacks can also be used to delete data or even take control of the database.
For instance, if a hacker was able to insert malicious code into an online store’s database, they could access the credit card information of all the customers who have ever purchased from the store. They could then use this information to make fraudulent charges or even sell the data on the black market.
2. Financial Fraud
Financial fraud is another common type of eCommerce security threat. Financial fraud can take many different forms. For instance, a customer’s credit card information can be stolen and used to make unauthorized charges. Hackers can also create fake websites that look like legitimate online stores.
When customers enter their credit card information on these fake websites, the hackers can then use this information to make unauthorized charges.
Financial fraud can also occur when hackers gain access to an online store’s bank account and transfer money out of the account. This has become among the most common types of fraud as it’s relatively easy to do and hard to trace.
3. Phishing
Phishing is a type of eCommerce security threat that is often used to steal customer credit card information. In a phishing attack, a hacker will send an email that appears to be from a legitimate website. The email will typically contain a link that leads to a fake website that looks like a real website.
When customers enter their credit card information on a fake website, the hackers can then use this information to make unauthorized charges. Phishing attacks can also be used to steal login credentials.
Hackers will send an email that appears to be from a legitimate website and contains a link to a fake website. When customers enter their login credentials on the fake website, the hackers can then use these credentials to gain access to the customer’s account.
4. DDoS Attacks
A DDoS attack is when a hacker sends a large amount of traffic to an online store in order to overload the server and make the website inaccessible. DDoS attacks are often used as a form of extortion. The hacker will threaten to launch a DDoS attack unless the online store pays them a ransom.
DDoS attacks can be very costly for an online store. In some cases, the cost of recovering from a DDoS attack can be upwards of $100,000.
5. Bots
Bots are programs that are designed to automate certain tasks. While there are many legitimate uses for bots, they can also be used for malicious purposes.
For instance, bots can be used to create fake accounts on an online store. These fake accounts can then be used to make fraudulent orders.
Bots can also be used to launch DDoS attacks or to scrape website data. Scraping is when a program extracts data from a website. This data can then be sold on the black market.
Bots are perhaps the most common type of eCommerce security threat as they can be used to carry out a wide variety of attacks.
6. Malware
Malware is a type of software that is designed to damage or disable computers. Malware can be used to steal customer credit card information, login credentials, and other sensitive data. Malware can also be used to delete data or take control of a computer.
Malware is typically spread through email attachments or by visiting infected websites. Once a computer is infected with malware, the hacker can then use it to carry out attacks on other computers. Malware is a serious threat as it can be very difficult to remove.
There are many different types of eCommerce security threats, but the six listed above are among the most common. While there is no surefire way to prevent all attacks, there are steps that can be taken to reduce the risk.
e-Commerce security issues and solutions include:
1. Use a Secure Web Host
One of the best ways to reduce the risk of eCommerce security threats is to use a secure web host. A secure web host is a web host that uses security measures to protect customer data.
Some of the security measures used by secure web hosts include firewalls, intrusion detection, and data encryption. This will ensure
2. Use a Secure Payment Gateway
Most of these eCommerce threats are aimed at stealing customer credit card information. One of the best ways to protect this information is to use a secure payment gateway.
A secure payment gateway is a payment processor that uses security measures to protect customer credit card information.
Some of the security measures used by secure payment gateways include data encryption and fraud detection. This will ensure that customer credit card information is safe from hackers.
3. Implement Two-Factor Authentication
Another way to protect customer data is to implement two-factor authentication. Two-factor authentication is a security measure that requires two pieces of information in order to log in.
For instance, two-factor authentication can require a customer’s password and a one-time code that is sent to their phone. This will make it much more difficult for hackers to gain access to customer accounts.
4. Use a Web Application Firewall
A web application firewall is a piece of software that filters traffic to and from a website. This software can be used to block malicious traffic, such as bots and malware.
For instance, if hackers try to access a website with a bot, the bot will be blocked by the firewall. This can protect customer data and prevent attacks. In some cases, web application firewalls can also be used to block DDoS attacks.
5. Keep Software Up to Date
Most web entrepreneurs do not understand how important it is to keep their software up to date. All software, including the operating system, web server, and applications, should be kept up to date.
This is because software updates often include security patches that fix vulnerabilities. By keeping software up to date, web entrepreneurs can close these vulnerabilities and make it more difficult for hackers to gain access to their websites.
6 Top eCommerce security threats and solutions.
6. Educate Employees
One of the best ways to reduce the risk of eCommerce security threats is to educate employees. Employees should be trained on how to spot suspicious activity, such as phishing emails.
Having untrained employees can be a serious security risk, as they may unwittingly give hackers access to customer data. By educating employees, web entrepreneurs can reduce the chances of a security breach.
The training programs should be done on a regular basis, such as once a year. This will ensure that employees are up to date on the latest security threats and how to protect against them.
7. Backup Data Regularly
Most eCommerce store owners do not realize how important it is to back up their data. Data should be backed up on a regular basis, such as once a week. Data backups will ensure that customer data can be recovered in the event of a security breach.
In addition, data backups can also be used to recover data that has been lost or corrupted. This can be a lifesaver for eCommerce store owners who have lost their data.
Data can be backed on cloud storage services, such as Dropbox or Google Drive. This will ensure that the data is stored off-site and is less likely to be lost or corrupted.
8. Use Secure Sockets Layer
A secure Sockets Layer (SSL) is a protocol that is used to encrypt traffic between a web server and a web browser. SSL is an important security measure that should be used on all eCommerce websites.
When SSL is enabled, customer data, such as credit card information, is encrypted. This makes it much more difficult for hackers to intercept and steal customer data. SSL also provides authentication, which helps to prevent man-in-the-middle attacks.
6 Top eCommerce security threats and solutions.
Final Thoughts
E-commerce security threats are a serious concern for all web entrepreneurs. By taking the proper precautions, such as implementing data encryption and two-factor authentication, web entrepreneurs can protect their customers’ data and reduce the chances of a security breach.
In addition, employees should be educated on how to spot suspicious activity. By taking these steps, web entrepreneurs can create a safe and secure online shopping experience for their customers.
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