5 eCommerce Security Threats to Look Out for in 2022

by | Jun 29, 2022 | Blog

Online businesses need to invest in cybersecurity. More than updating passwords and 2FA payment processing, eCommerce sites need to train staff, use the right antivirus software, secure data, and understand how your site is vulnerable, how to protect your users and what regulations you must follow in the jurisdiction in which you operate.

Training courses help individuals to establish, implement, maintain, and continually improve an information security management system (ISMS) based on the requirements of ISO/IEC 27001. Those who complete such courses are able to demonstrate that they have the necessary skills to implement information security policies and procedures that are of the highest standards. After training in security management, workers become more aware of the types of security threats and potential risks posed on eCommerce websites.

According to Gartner, organizations that adopt a cybersecurity mesh architecture can reduce the financial impact of security incidents by an average of 90%.

Below are the top 5 security threats that eCommerce and other online organizations face in 2022.

Malvertising attacks

Malicious advertising, or malvertising, is a new form of cybercrime. Cybercriminals inject malicious code into digital ads which redirect users to malicious websites or install malware on their devices. Malvertising is difficult to identify, even by publishers. The ads are usually displayed to consumers through legitimate advertising networks, and therefore, any website display advertising can present a risk of infection to users. Big brands have already been targeted by maladvertising, and cybersecurity experts are working hard to find ways to mitigate malvertising attacks.

How to prevent malvertising?

  • Install antivirus software and ad blockers
  • Keep software and extensions up-to-date
  • Avoid using Java or Flash programs

As a business your should take the following steps to reduce risk when you use network advertising as part of your digital marketing strategy:

  • Evaluate third-party ad networks responsible for choosing, inspecting, and running ads
  • Scan ads that they plan to display
  • Avoid using Flash or JavaScript in ads

Ransomware

The damage done to companies by ransomware is expected to reach US$265 billion by 2031, according to reports. Some analysts predict that a ransomware attack will happen every 2 seconds as malware becomes more insidious, and nefarious actors, including government actors, improve the capabilities of malware.

In this type of attack, a computer is locked, typically by encryption, and users are blocked from using the device and accessing stored data. To regain access to the device, the victim is asked to pay a ransom, and more often the request is for untraceable cryptocurrency.  Ransomware is most commonly spread through malicious email attachments, compromised websites, infected software apps or infected external storage.

How to prevent ransomware?

  • Back up data and devices on external drives
  • Keep software updated
  • Use a traditional firewall that blocks unauthorized access to computers or networks
  • Do not open links in emails from unknown sources
  • Avoid opening email attachments from unknown sources

Phishing attacks

Phishing attacks are increasing as the online business environment grows. According to research, in 2020, phishing was the top “action variety” of breaches at 43 per cent of nefarious actions.

Phishing tricks users into compromising important and confidential information, mostly using fake emails that appear to have been sent from a legitimate source, such as an official agency or government department. When unsuspecting users take an action, such as clicking on a link or opening an email attachment, it allows attackers to install malware on their devices.

How to prevent phishing?

  • Train teams to identify potential threats and spot suspicious emails.

Internal threats

Internal security threats are surprisingly one of the most common. Employees, intentionally or unintentionally, misuse authorized access or expose the system to threats, often due to a lack of knowledge and training.

Oftentimes, noncompliance with the organization’s policies and procedures, such as changing passwords when employees leave or securing access to limited numbers, places an eCommerce at risk. Hacks of customer data including emails, phone numbers and even sensitive credit card information are far too common and can often be prevented by improving the training of staff about the importance of security and how to use systems in safe ways.

How to prevent internal security threats?

  • Train employees on security importance and best-practice protocols
  • Implement two-factor authentication (2FA)
  • Limit employees’ authorized access
  • Keep teams informed of different types of security threats and how they should act if they occur
  • Follow the requirements of international standards, such as ISO/IEC 27001 or ISO/IEC 27032

Cloud attacks

The Cloud has become a fundamental connection for online organizations, allowing employees to work from home, network with other businesses and share information. However, not all Cloud services are encrypted and some don’t require user authentication for access. This means your system is vulnerable to attacks. Misconfiguration can cause security incidents such as network vulnerabilities, data leaks and intrusions. While some of these breaches are a nuisance more than a threat if it becomes public your business has been vulnerable to attack it can spell the end for your eCommerce as trust is eroded and customers turn elsewhere.

According to reports, over half of cloud security breaches are caused by simplistic issues, and two-thirds of cloud security incidents could be avoided by checking configurations.

 

How to prevent cloud attacks?

  • Identify who can access your data
  • Establish Cloud governance policies and procedures
  • Train employees
  • Secure data offline
  • Use penetration testing