Ecommerce security -Improving Data Security in 2021

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Ecommerce security -Improving Data Security in 2021

Due to global lockdowns, e-commerce businesses experienced a significant success in 2020. Simultaneously, this extraordinary success has resulted in an unprecedented increase in cyber-attacks. Both shops and customers are in danger.

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E-commerce businesses have increased in popularity in recent years, with many shoppers all over the world preferring to shop online on a regular basis. The COVID-19 epidemic, which began in 2020, has forever altered the shopping business. Both e-commerce and brick-and-mortar were impacted in some way, as online buying has become increasingly popular.

Ecommerce security -Improving Data Security in 2021
Ecommerce security -Improving Data Security in 2021

Let’s take a look at a few of the surprising and extraordinary stats for 2020:

  • According to Adobe’s Digital Economy Index, online retail companies in the United States grew by 49 percent in April compared to the pre-lockdown period in early March. Daily, online food purchasing has increased by 110 percent!
  • The 2020 holiday online shopping season, according to Amazon, will be the largest ever. This was confirmed by a number of additional merchants.
  • During the lockdown, 56 percent of buyers, according to Narvar, tried a new shop.

As for 2021, e-commerce will surely keep its wonderful march, independent of pandemic and vaccination improvements. eMarketer projects US online retail revenues to climb to $843.15 billion (up from $794.5B in 2020).

What about safety and security?

Most consumers have been forced to adjust their lifestyles by selecting for internet shopping from the comfort of their own homes, in a safe and familiar setting. Is it, however, safe to shop online? Online shopping has always come with some dangers, such as damaged or surprisingly low-quality goods, dishonest merchants that refuse to refund, and so on.

We will, however, focus on the most serious problem affecting e-commerce business owners and their customers: cybersecurity. The hottest target for cybercriminals has always been and will always be online shopping, and the phenomenal success seen by e-commerce companies in 2020 could not escape the hackers’ notice. Why? Personal data is quickly becoming one of the most valuable things. During the 2020 lockdowns, the convenience of internet shopping was especially significant, but the more people who purchase online, the more hackers they attract. According to Cyberpion, cyber-attacks constitute a threat to 83 percent of the top 30 US retailers.

Both the online retailers and the customers appear to be affected. Customers must provide personal information to an online store in order to purchase something. They must entrust their credit card details, e-mail address, usernames, passwords, and other personal information to a third party. To gain money, cybercriminals can take that information from the online store database. At the same time, if the customers’ personal information is exposed, the store’s reputation will be ruined, since the store would be made responsible both to the customers and to the industry’s regulatory authorities.

It’s a significant responsibility to be responsible for cybersecurity. Owners of e-commerce businesses must take online security extremely seriously. They just cannot afford to lose the data of their customers or their company’s reputation. Many online businesses, of course, are aware of cybersecurity threats and are taking the appropriate precautions to protect themselves. According to the VMWare Carbon Black 2020 Cybersecurity Outlook Report, 77% of eCommerce business owners have purchased new security solutions, while 69% have invested in cybersecurity personnel.

Cybercriminals, on the other hand, are constantly looking for new vulnerabilities and improving their capabilities. As a result, online businesses must always be one step closer: keeping up with the latest e-commerce cybersecurity risks is a requirement. Isn’t it time to think about computer security?

So, what are the most serious security threats for e-commerce businesses?

  • DDoS (Distributed Denial of Service) Attacks:

To bring your website down, DDoS attackers make a massive number of requests from hundreds or thousands of compromised IPs all at once. When your online store receives a great volume of traffic, your credit card information). Phishing attackers frequently send huge mailings on behalf of well-known companies, with links to fake online storefronts that appear to be identical to genuine sites (the site usually looks identical, but the URL may differ slightly from the original one). Naturally, the buyer receives nothing after paying.

  • Viruses and malware (malicious software):

Malicious software is any software that attempts to infect a computer or mobile device. The malware is placed on victims’ websites by cybercriminals for a variety of reasons, including acquiring personal information and passwords, stealing money, and blocking the device owner. To fool users, they can immediately divert the website to another page or open multiple pop-up windows.

Ransomware is one of the most common cyber-threats. It’s a sort of malware that isolates the device from its owner. The user need a key, which can only be provided by the hacker, in order to access their own data. Until the ransom is paid, the user is blackmailed. Phishing e-mails, pop-ups, and fake websites can all be used to infect your device with ransomware.

  • E-skimming:

You’ve probably heard about skimming devices that are used to sneak into ATMs. Now, hackers utilize a more advanced approach known as e-skimming, in which they embed a skimming code directly into the pages that handle credit cards on your e-commerce site. As a result, they steal card data in real time as the user is making a payment.

Is it better to shop or not to shop online?

The above statement is not true of e-commerce cybercrime. Is this to say that shopping online is always risky and should be avoided? Certainly not! Shopping online is convenient, comfortable, and sometimes unavoidable. The good news is that you can make it absolutely risk-free!

It is everyone’s responsibility to shop safely online. Organizations and consumers must both take actions to ensure a safe environment.

Here are some recommendations and procedures that a typical user can take to reduce cyber-risks while buying online:

  • Only shop from reputable websites.
  • Use strong passwords, change them frequently, don’t save them on computers or websites, and change them from one site to the next.
  • Do not open suspicious e-mails, websites, pop-ups, or payment pages (e.g., those offering you a prize).

What can an online retailer do to prevent data breaches?

  • Update your e-commerce site, devices, and systems on a regular basis.
  • Invest in your staff’ education: everyone should be informed of and responsible.
  • Make a backup of your data.
  • Continue to invest in cybersecurity services to ensure that your company’s and customers’ data is protected to the fullest extent possible

Ecommerce security -Improving Data Security in 2021

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What do you mean by e-commerce?

The buying and selling of goods and services over the internet is known as e-commerce.

Is it better to shop or not to shop online?

Is this to say that shopping online is always risky and should be avoided? Certainly not! Shopping online is convenient, comfortable, and sometimes unavoidable. The good news is that you can make it absolutely risk-free!

what are the most serious security threats for e-commerce businesses?

1. DDoS (Distributed Denial of Service) Attacks
2. E-skimming
3. Viruses and malware (malicious software)

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