eCommerce and Data Breaching: The Next Cyberthreat

The COVID-19 pandemic has made online shopping the new “norm” for many consumers. In fact, in 2020, US e-commerce grew 44%, with sales hitting $791.70 billion. Prepared businesses took advantage of this situation, while those that weren’t online had to adapt to avoid losses. However, with new opportunities comes new challenges. For e-commerce, its obstacle is cyberattacks.

What are Cyberattacks?

In simple terms, a cyberattack refers to an attack launched by computers to steal information, harming businesses and individuals. E-commerce companies are one of the most targeted businesses by cybercriminals. Most of these attackers are after credit card information, emails, bank account information, and any other data they can use to make a profit.

Types of eCommerce Cyberattacks

There are many ways a hacker can attack your business and customers, so you must be familiar with all the methods they might use. Once you know what they are, you can then educate your employees on how to identify such attacks and keep your company safe. Here are the five most common types of cyberattacks:

1. Phishing attacks

Phishing attacks are the most common types of cyberattacks. In essence, a criminal uses a breached email (from a bank or a well-known organization) or a misleading email address to ask for personal information from a customer or an employee from your organization. That’s why it’s important to constantly remind employees to never provide personal information through emails or other channels. 

2. Credit Card Fraud

Credit card fraud occurs when someone physically steals your card or hacks your account online. It is also really common, especially when your purchase process is fully automated. Here are six strategies you can adopt to prevent such fraud.

3. Botnets

Botnets are Internet-connected devices that can steal data, send spam, and execute Distributed Denial-of-Service (DDoS) attacks. Companies sometimes set botnets to other companies to steal information or copy strategies, in hopes of increasing sales and customer returns while slowing down their competitors’ progress. 

4. Malware

Malware is a virus installed on a computer to steal information, causing damage to servers, clients, computers, and computer networks. Thus, it can bring a whole organization down if it’s not identified and dealt with quickly. Here are the six most common types of malware to watch out for.

5. E-skimming

E-skimming, a technique that lets hackers steal payment information by assessing a customer’s card information directly from a company’s website, is on the rise. To protect your site, we recommend updating all systems with the latest security software, segmenting network systems, and changing default login credentials.

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