E-commerce Businesses Prepare for Holiday Cybersecurity Challenges
/ 4 min read
Quick take - As the holiday shopping season approaches, e-commerce businesses face increased online traffic and heightened risks of cyberattacks, particularly from ransomware groups, prompting experts to recommend ten security measures to enhance protection against potential threats.
Fast Facts
- Black Friday and Cyber Monday present significant opportunities and challenges for e-commerce businesses, with a notable increase in online traffic and cybercriminal activity.
- Ransomware attacks, particularly from groups like LockBit and Akira, targeted the e-commerce sector, which accounted for 6.77% of global ransomware incidents in 2024.
- Experts recommend ten security measures for e-commerce businesses, including using HTTPS, educating employees on phishing, and deploying Web Application Firewalls (WAFs).
- Regular updates of payment gateways, monitoring for bot activity, enforcing strong password policies, and implementing Multi-Factor Authentication (MFA) are crucial for enhancing security.
- Proactive tools like SOCRadar’s Brand Protection and Dark Web Monitoring can help e-commerce platforms mitigate risks and protect against cyber threats during peak shopping seasons.
E-Commerce Security During Holiday Shopping Season
Black Friday and Cyber Monday are pivotal shopping events that consistently draw substantial online traffic, offering both opportunities and challenges for e-commerce businesses. As the holiday season nears, these businesses are preparing for heightened activity. However, the surge in online shoppers also creates an environment susceptible to cybercriminal exploitation. During these peak periods, vulnerabilities in online shopping platforms can be targeted.
Rise of Ransomware Attacks
Ransomware groups such as LockBit, Akira, and Play are increasingly focusing their attacks on the e-commerce sector. In 2024, the e-commerce industry accounted for 6.77% of ransomware attacks globally, placing it among the top five targeted industries. Ransomware attacks can severely disrupt operations, often demanding hefty ransoms and leading to significant financial and reputational damage for affected companies.
Actionable Security Tips for E-Commerce Businesses
In response to these threats, experts have outlined ten actionable tips for e-commerce businesses to enhance their security during the crucial holiday shopping season:
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Ensure HTTPS Usage: Implementing HTTPS encrypts data exchanged between customers and the platform, protecting sensitive information and enhancing customer trust while improving search engine rankings.
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Educate Employees on Phishing and Fraud Prevention: Training employees to recognize suspicious activities is essential for mitigating risks, as cybercriminals often exploit individuals within organizations through phishing campaigns.
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Deploy Web Application Firewalls (WAFs): WAFs filter and monitor incoming traffic to block malicious activities, protecting against techniques like SQL injection and Cross-site Scripting (XSS).
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Monitor and Update Payment Gateways Regularly: Regular updates of payment gateways are crucial to prevent exploitation, and compliance with PCI DSS standards is essential for securing payment processing systems.
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Monitor for Bot Activity and Account Takeovers: Implementing anti-bot solutions and monitoring stealer logs can help prevent account takeovers, as malicious bots can compromise customer accounts and scrape data.
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Enforce Strong Password Policies: Implementing complex password requirements and encouraging the use of password managers can enhance security, as weak passwords are a common vulnerability.
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Implement Multi-Factor Authentication (MFA): MFA adds an essential layer of security to administrative accounts, and advanced MFA solutions combined with training on social engineering risks can help mitigate unauthorized access.
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Monitor the Dark Web for Stolen Data: Actively monitoring Dark Web forums for stolen customer information can provide visibility into compromised data, with tools like SOCRadar’s Dark Web Monitoring being particularly useful.
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Regularly Patch and Update Software: A proactive patch management policy is necessary to maintain security, as outdated software can expose vulnerabilities to attackers.
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Conduct Stress Testing for Online Shopping Websites: Preparing platforms for high traffic through stress testing helps identify potential weaknesses, with load-testing tools simulating peak traffic conditions to optimize performance.
Conclusion
Notably, the United States is the most targeted country in e-commerce-related Dark Web activity, accounting for 17.16% of posts. Within these forums, access sales and shares dominate discussions, making up 46.82% of entries. By implementing the outlined security measures, e-commerce businesses can significantly reduce their exposure to threats during the holiday shopping season. Additionally, utilizing proactive security tools like SOCRadar’s Brand Protection and Dark Web Monitoring can further safeguard e-commerce platforms against potential cyber threats.
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