Ecommerce has become one of the latest business trends all over the planet. This trend is very advantageous as it helps you continue marketing your goods and services past working hours, and reach out to potential customers through social media and make lots of money. However, ecommerce is also prone to cybersecurity threats, especially startup businesses that have shown great potential in the market. In this article, we discuss some of the most common cybersecurity threats to watch out for as an ecommerce startup. Read on.
1. DDoS Attacks
DDoS (Distributed Denial of Service) attacks mostly involve your ecommerce site receiving thousands of requests from untraceable IP addresses. These attacks usually revolve around the manipulation of IoT devices. Some heavy DDoS attacks can cause extensive damage, even making your site to go offline. When this happens, your ecommerce website is left more vulnerable to other vicious attacks.
The frequency of DDoS attacks mostly increases during the peak sales period. For instance, there was about a 109% increase in severe DDoS attacks on ecommerce websites in 2018 within a very short time.
A huge DDoS attack could cost your ecommerce business a lot if you are not prepared. Most startups say that such attacks usually cost them even about $40,000 in some cases. The biggest damage that DDoS attacks can cause is making you lose your client’s confidence and trust, considering that your business is still new.
Big companies say they face at least one DDoS attack daily. Therefore, you should be aware of these attacks and take every possible precaution to help ensure your startup business thrives.
Malware refers to any kind of software used by hackers to help them gain access to critical data or destroy your computer network. This software is usually inserted into your web pages through a trick called SQL injection. So, any malware entity on your ecommerce site can easily:
- Fake identity and send many malicious emails to people on your behalf
- Gain full access to all your company’s crucial data
- Destroy databases
- Take entire control of your networks and computers
The tricks used by cybercriminals to infect ecommerce sites have been changing for years now. So, you must ensure that your startup business also has updated antivirus protocols. Most professionals advise that startups try and install firewalls to enable them to monitor every activity on their website. These experts also insist that you should avoid keeping lots of sensitive data on your site. That way, you’ll not face a huge loss in case hackers get through your current security measures.
3. Credit Card Fraud
Credit card fraud is among the most common cybersecurity threats facing ecommerce startups today. This threat has been existing for many years and is usually very hard to trace. If your startup company already has many clients, then it becomes difficult to know when a fraudulent transaction has occurred since you’re now used to handling lots of sales. However, if you notice any of these signs, then credit card fraud might be taking place on your site:
- A certain sale of an abnormally big value that you’ve never made in a day
- An order that’s to be shipped to an address that is different from the billing address
- A successful order that follows several failed ones with the same credit card
- The client’s IP address differs from the location on the billing information
Before accepting any payment, it is advised that you try and verify such transactions first. Failure to do that might leave you in trouble since you’ll be forced to pay back persons whose credit card details were used illegally.
Experiencing several credit card frauds can cause huge losses as you might even get sued if you don’t compensate the victims. Also, such cases can even ruin your company’s reputation when you are just starting out. This will make it impossible for you to break through the market.
4. Spam emails
Spam emails are also used a lot by cybercriminals, and you should educate your employees adequately about them. Mostly, spam emails come in form of blog comments on your site.They’re usually silent bombs waiting for one of your employees to make the grave mistake of clicking them. Clicking such links infects your site with ransomware, eventually making it easier to hack your ecommerce site and cause damage.
The best way to deal with cybercriminals is by understanding their favorite tricks. In this article, are among the most common methods used by hackers today to infect your ecommerce site with malware, steal your data, and ruin your entire business. It’s vital that you properly understand these threats and how they work. That way, you can create an effective strategy that’ll help you deal with these cybersecurity threats efficiently in the future, and save your businesses from being destroyed during their early stages.