Online E-commerce is the most trending business model that contributes to grow up various opportunities in online, as most of the customers are currently preferring online shopping that provides more flexibility in order to save time and other benefits.

In the same time, cyber risk that involved in ecommerce business and online sales due to the technological flaw is one of the very serious concerns due to customers information such as credit/debit cards data, personal information are involved.

E-commerce involves with various IT operations within warehouse and data centers which requires extremely secured environment and high availability since the e-commerce is one of the main targets for cybercriminals.

There are 4 different members involved with E-commerce business, which includes,

• Shoppers – A member who can buy product and services
• Merchant – A member who can offer the product or services to Shoppers
• Software Providers – A Third Party software provider to Merchant
• Attacker – A person or Group involved to attack the E-commerce Network

According to Market research firm, marketer states that the E-commerce sales will be $3.5 trillion in the next 5 years where 5.5 % of sales will be increased in 2019 compared to last year.

Rise of Cyber Attacks in E-commerce

There are various cyber threats that makes E-commerce business more vulnerable since there are some sensitive IT operations involved behind this. Just a years back, more than 150 million attacks were launched by cyber criminals using serious threats such as login attempts, credit card frauds, botnets, Phishing and many other e-commerce attacks.

Rising of sophisticated cyber-attacks by cybercrime groups and hacktivists on web-based applications due to lack of infrastructure security including software and internet connected devices.

Extensive use of Ecommerce will rise the cyber-attack vectors in 2019, increasing the Countermeasures of advanced threats by finding new loopholes in web applications in order to compromise the online services related to Ecommerce

Most Dangerous Ecommerce Cyber Threats in 2019

E-commerce applications based on cyber-attacks are very sophisticated and an attackers can perform multiple actions without any indication on the network e-commerce make and the following cyber threats will be the most dangerous attacks in 2019.

Phishing Attack:

Phishing is a very frequent attack to the E-commerce users that is delivered via innocent looking emails to trick users to give away their personal data, login information and other sensitive data. Most of the people are unaware about this phishing attack and they fail to differentiate between legitimate emails and fake claims due to lake of awareness.

DDOS Attack:

DDOS attack which is also called as Distributed-Denial-of-Service is one of the most dangerous attacks specially targeting e-commerce business to pull down the website’ by distributing ‘overwhelming requests to the server’. DDOS attack is one of the attack that is difficult to stop by just simply blocking the IP addresses since the attack will be distributed from thousands of IP addresses.

Credit Card Fraud

Fraudulent online credit card fraud activities are very frequent and cybercriminals are making to use the stolen credit cards and make use of it to purchase in e-commerce platforms. credit card fraud is impossible to be avoided due to lack of authentication which ensures the person’s purchase item as a legitimate card.

Identify Theft and Refund Fraud

Identity theft is one of the ongoing e-commerce fraudulent activities that indicate the online transaction made by another identity with false name using some others credit card’s data.

The refund fraud in e-commerce is continuously growing a by claiming that they made a cybercriminals and contact to the merchant back to reimbursement in alternative payment method because they have closed that bank account.

These are some of the main concerns that are the reasons for e-commerce business to lose money due to lack of defense control.

Cyber Attack Defenses in an E-commerce Platform

  • E-commerce platforms should never store user’s password in plaintext in order to avoid attackers from reading the sensitive data if the network would be compromised
  • Employ external auditors to check if the techniques and appropriate processes are strictly followed when you’re developing third-party software for E-commerce
  • Educate both the technical and the nontechnical employees by offering good Ethical Hacking course to make sure they aware about all web application and malware-based attacks
  • Apply proper firewall in endpoint systems that, behind the e-commerce to control the incoming traffic and intrusion detection system to monitor unwanted attempts at accessing and modification.
  • Ensure your website is up to PCI standards that provide the best security standard to secure financial transaction online.
  • Make sure that the website is properly patched for known vulnerabilities and conduct regular audits and software updates.
  • Customers must always check whether the website is protected with SSL (HTTPS), with a padlock icon and be aware of the shoulder surfing in public place when entering the payment card information.

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