The recentproliferation of the Internet through mobiles has boosted the growth of ecommerce a lot. Simultaneously, the number of security-related incidents also have risen many fold thanks to advanced hacking technologies.
Different tech-savvy levels of human users and non-human users due to IoT phenomena have increased the complexities of security experts dealing with various attacks on the web.
It implies ecommerce merchants and ecommerce developers to advanced their ecommerce security strategies and uses the latest solutions to face with the incoming threats on ecommerce business and relevant activities.
Here is the eCommerce security infographic developed by Magneto IT Solutions:
Ecommerce Cybercrime Report
We must know the crime rate and types on the Internet through cybercrime reports available on the web. It gives us insights into the statistics that how criminals on the web are behaving and what happens when attacks committed.
If we look at the recent reports, we will encounter some astounding facts, such as:
- All visitors to your ecommerce storefront are not coming with buying intentions, but nearly 29% have bad intentions, and they can hurt your online business a lot.
- Cybercriminals select various routes, among those email is a potential source. Therefore, 92.4% emails of ecommerce merchants consisting of malware or malicious things to intrude into your system.
- Cyber-attacks are now becoming more sophisticated because nearly 35% of businesses have admitted that they have received file-less attacks recently.
Types of Industries under the Attacks
Malicious elements on the web have some preferences to choose industry type for their attacks to gain the maximum, and unfortunately,the ecommerce industry is at the top of the list. The following figures are sporting the fact.
- 4% of attacks were targeting ecommerce stores
- 7% of attacks were on financial institutions including banks
- 1% of attacks were from Social Media & Emails routes
- 8% of attacks were targeting M-Commerce & Monetary Transactions.
- 04% of attacks were aiming to hurt Professional Services
- 02% of attacks were on other Industries
Impacts on Ecommerce
Cybercrime attackers disrupt the entire online businesses and leave profound impacts on the present and prospect of the ecommerce. If we dig the data further, we will find some clues regarding the impacts of security attacks on ecommerce business. For example,
- Small ecommerce stores have received 43% of attacks
- One or more attacks have experienced by almost 54% of ecommerce stores
- Cybercriminals have abolished the ecommerce completely within six months of an attack,and 60% of small ecommerce businesses were affected
- Only 38% of ecommerce storefronts have capabilities to withstand against the attacks and survive
What Are Attackers Looking?
Cybercriminals have different aims and reasons to prepare various types of attacks, but three common motivational factors are inspiring them the most, and those are:
- Ecommerce visitors’ data and personal info
- Ecommerce merchants’ data and info of the working staff in the ecommerce agency
- Ecommerce user account credentials like username and password to access the accounts unauthentic ways
If we protect these three with effective ecommerce security solutions, we can avert the happening of the most cybercrimes right before those take place.
Ecommerce Security Solutions
We have reviewed cybercrime reports, some statistics on cyber-attacks, and behavior of cybercriminals. Based on our findings and recommendations available on the web as well as by the expert developers at Magneto IT Solutions like a leading ecommerce development team, we can apply the following solutions.
- Hosting should secure using SSL certificate for HTTPS.
- The practice of storing or keeping a backup of customer data is dangerous, so avoid it and prefer cloud storage or direct customers to the third-party websites like bank sites by integration of APIs.
- Virus, malware, and hacking protection software, as well as online services, are available to install those or subscribe for your ecommerce.
- Use the latest technologies, techniques, and servicesto a backup entire ecommerce site and its databases with the quick and secure restoration process.
- Various system alert services are available to get clues regarding any attack to take preventive measures immediately, so use it.
Now, we have a complete picture of ecommerce security viz. incidents of cybercrime, the behavior of cybercriminals, ways to carry attacks, preferred industries for attacks, and possible measures or solutions to prevent ecommerce from the potential cyber-attacks.
Ronak Meghani is a co-founder of Magento IT Solution Pvt Ltd, A Leading eCommerce Development Company in USA and India. He is closely working with e-Commerce ventures since 2009 and he has helped 200+ brands for building / improving their online ventures. You can follow him at Quora or Linkedin.