Today the majority of human beings have Internet access thanks to rapid penetration of mobile-based Internet. Besides this, nearly 200 billion objects also are going to be connected on the Internet en-route to the Internet of Things (IoT) by 2020.
It brings a huge volume of living and non-living entities on the Internet and raises the potential of security threats more than we imagine. Yes, non-human traffic is a low hanging fruit for the Internet security breaches carried by malicious elements on the Internet and around the users.
Let’s see what statistics on the cybercrime and security reveals on the web.
Ecommerce Cybercrime Report
Recent eCommerce cybercrime reports have revealed following things:
- 29% of your website traffic has malicious intentions and wish to attack you.
- 92.4% malware delivery takes place through emails on given email addresses on your website.
- Half of SMBs have admitted that cyber-attacks have increased severity and sophistication with the advent of technologies.
- 35% attacks comprise of file-less attacks among all types of cyber-attacks and are on the rise.
Types of Industries under the Attacks
Let’s see which industries and services are the most vulnerable for these cybercrime activities.
Ecommerce – 32.4%
The highest vulnerable industry is e-commerce by experiencing 32.4% attacks in various forms. E-commerce sites and apps have storage and exchanges of critical data and sensitive info, so it tempts malicious elements the most.
Financial Institutions – 25.7%
Banks like financial institutions have everything that can lure attackers. Therefore, bank sites and apps are soft targets of different attacks and damages are huge.
The percentage of attacks are low compared to eCommerce because banks are the most organized and powerful sectors to bear the big expenditures on the security measures for the web and apps.
Social Media & Emails – 23.1%
Vulnerabilities reported on social media sites are a lot. Hackers have easy access to essential data of a company and its employees. Finding an email address and phone/mobile number is no more tough for malicious elements. Once they obtain the functional email address of the target, they used to start email attacks by sending phishing emails and applying email based on various techniques.
M-Commerce & Monetary Transactions – 12.8%
Fraudulent money transfer requests, tempting targets to send money through various ways, stealing transaction data, obtaining sensitive financial info from payment exchanges during e-commerce transactions, and much more in the same line is possible for hackers despite widespread use of encryption technologies.
Professional Services – 04%
Most of them are of small-scale ventures and unequipped to combat the latest hacking technologies to established security firewalls. Therefore, they are an easy target. However, their overall percentages are low, so hardly come on notice when security issues surveyed.
Other Industries – 02%
Apart from the described above industries, there are many other potential industries and business niches, which are easy to target and lucrative in return for the malicious elements.
Types of Attacks
Recently, various types of attacks have been reported on e-commerce sites and by online merchants across the globe. The most common are:
- Credit/debit card frauds
- DDoS or Distributed Denial of Service
- Man-in-the-middle attacks
- Bad bots
- Phishing scams
Impacts on E-commerce
Security threats leave deep impacts on e-commerce businesses and their functionality. For instance,
- SMBs are receiving 43% attacks.
- 54% of companies have at least experienced one or more successful security attacks.
- 60% of companies, which have received a security attack had died off/wipe off business within six months.
- Only 38% of global companies have handled cyber-attacks successfully.
These figures indicate low survival rate and high potential of security threats in coming days.
What Attackers Are Looking for While Planning Attacks on Ecommerce
There are many reasons to cite for attacks on eCommerce security, but the following are the most common.
- Sensitive data of online consumers to steal identities in most cases.
- Critical financial data of the companies to grab the money and other useful info for them to serve their bad intentions.
- Authentication and authorization credentials like username and password to access accounts.
Security Challenges E-commerce Developers Face
Recently, Statista, a known statistics portal has reported the following security challenges that eCommerce developers have to face while addressing the e-commerce security issues.
- 22% challenges while preventing malware like ransomware.
- 17% challenges while identifying vulnerabilities.
- 13% challenges while preventing social engineering and phishing attacks.
- 12% challenges while patching vulnerabilities.
- 11% challenges while detecting malicious activities and compromises.
- 10% challenges while managing network devices and users at remote places.
- 04% challenges while containing and responding to incidents and breaches.
The statistical data obviously depict that facing ransomware is daunting. If we look at the countrywide data of ransomware attacks, the following picture comes on the surface.
- 7.93% – Turkey
- 7.52% – Vietnam
- 7.06% – India
- 6.62% – Italy
- 6.25% – Bangladesh
- 5.98% – Japan
- 5.86% – Iran
- 5.81% – Spain
- 3.84% – Algeria
- 3.78% – China
Apart from ransomware, identifying, preventing, and patching vulnerability are next challenges that eCommerce security developers have to face.
Security Solutions for Ecommerce
Now, it is time to think about possible security solutions, and those are:
Security begins from the secure home and hosting is home for complete ecom elites for business where everything including sensitive data stored and exchanges taking place through HTTP requests. Therefore, it is imperative to use the latest SSL technologies to secure everything in the home/hosting.
Once your eCommerce server compromised, you can lose everything including your business in a short or long run. Thus, choose VPN or dedicated hosting options if possible. Otherwise, cloud hosting is not a bad idea.
Avoid Single Storage and Backup
Try to avoid accumulation of consumer data on a single server, instead use multiple servers or cloud servers to distribute your data in cloud clusters globally. Today cloud hosting is a buzz, and many eminent cloud providers are highly reliable, find out the best match for your e-commerce hosting.
Take a backup on multiple servers and devices online and offline, so disaster management becomes easy.
Use Software that Prevents Hacking and Attacks
Antivirus, malware prevention, scanners, and other firewall-related software provides you with round-the-clock security with automated processes. Find out the most effective and applicable to your eCommerce.
Use System Alerts
System alerts against the suspicious activities can provide developers and e-commerce merchants to save the system against the possible attacks. System alerts should provoke especially on occasions of using cards and doing monetary transactions online or on the mobile clients.
With each innovation of technology, we face new threats and security challenges. Therefore, with adoptions of innovations, we must develop strong security for our eCommerce business online as well as through mobile apps.
There are the leading eCommerce development companies like Magneto IT solutions, which are providing unbeatable security measures and software to address all security aspects of your e-commerce in a nutshell and cost-effective ways.
Let’s meet the impeccable team of eCommerce developers at Magneto IT Solutions and discuss your eCommerce projects with fully equipped and secure system.