2016 was the year of cyber attacks and Security breaches. For instance, Yahoo revealed that more than one billion user accounts were compromised, making it the biggest hack of customer data in the history of breaches. Then, Adultfinder.com reported theft of more than 400 million customer details including passwords.
These breaches are not limited to large scale businesses or popular e-commerce stores. The small businesses are also prone to security hacks as well. In fact, statistics reveal that 43 percent of cyber attacks target small businesses. The hackers are becoming more sophisticated in their attacks, and new Threats are detected every day, putting your customer information at huge risk. So, as far as security is concerned, you can’t afford to take chances with customer data, whether in the cloud or at the endpoint. There is a strong need to secure your CRM data to combat the threats of cyber breaches.
Which Data Needs to be Protected?
Depending on the nature of your business, you need to know which data needs to be protected. Hackers can steal emails, usernames, passwords, addresses, phone numbers, bank account details and credit card details of your customers. They can also breach the company database and internal documents, and interfere with the IT networks, including a CRM system.
You can identify which data assets are sensitive and which are not, and then accordingly implement appropriate e-commerce CRM tools and security systems to prevent data loss.
Which Security Threats You Should be Aware of?
It is not easy to understand all cyber threats that are likely to impact your e-commerce business. But, the following are the biggest e-commerce security threats against which you should consider protecting your customer data.
Ransomware is a type of malware that locks your keyboard, computer or system to prevent you accessing the data until you pay a ransom. It does not steal data, rather encrypts the file and holds it captive. The data can be decrypted only after the payment of ransom within stipulated time period set by the cyber criminals or else all data will be lost, never to be recovered again.
The most recent ransomware WannaCry has infected more than 200,000 computer systems across 150 countries.
More than 4,000 ransomware attacks have occurred every day since 2016, an increase of 300% increase over 2015. Hence, it is touted as one of the most dangerous threats in 2017 and later years.
Useful Solution : Sure Shot Ways to Secure E-commerce Business from Ransomware Attack
Immediately after WannaCry, a new malware campaign ‘Judy’ was discovered on Google Play, threatening the security of customer data. It is an auto-clicking adware which was found on 41 apps developed by a Korean company. The malware uses infected devices to generate large amounts of fraudulent clicks on advertisements, generating revenues for the perpetrators behind it.
Judy has already infected more than 36.5 million Android smartphones. If the user does not adequate security settings and tools in place, this malware can result in loss of passwords, card details and photos saved on their phones. It is estimated that Judy can affect two billion Android devices across the globe.
- Internet of Things (IoT)
In 2016, the extent of security threat to IoT was felt when a malware called Mirai Botnet infected IoT devices, a first of its kind IoT attack. Using a Distributed Denial of Service (DDoS) attack, the hackers flooded one of the largest server companies in the world with massive amounts of traffic, bringing down the servers and websites hosted on them. It was discovered that tens of millions of computers were sending data to the targeted websites. Since IoT devices are electoral devices such as cameras, home appliances, printers, DVRs and other smart devices, all of which are connected to internet, such an attack can shut off the entire power grid and lock all systems simultaneously.
Gartner forecasts that 20.4 billion connected things will be in use by 2020. So, while it will enable people to do things never before imagined, it will also bring along more security threat.
- Phishing and Whaling
Phishing is a cyber breach technique used by hackers to gain access to personal information through fraudulent e-mail messages that appear to have originated from trusted sources or legitimated businesses. These e-mails appear authentic, and tempt the users to click a URL or download an attachment, post which it maliciously taps into their personal information such as user names, passwords, social security numbers, credit card details and bank account details.
Phishing is an active attack vector for ransomware. About 97.25 percent e-mails contain a form of ransomware!
Whaling is one level above phishing. It is a social engineering scam which trick high networth individuals or top level employees such as CEOs, CIOs or CFOs who have access to company’s sensitive data into transferring money. These e-mails are highly personalized, making it difficult to doubt their authenticity. Small businesses are particularly at more risk from whaling as they are usually a one-man company or have very few employees, who are easy and quick to target.
How to Protect Your Customers Against Security Threats?
Here are a few best practices that will ensure data protection to your customers and gain their trust in your e-commerce business.
- Use the latest e-commerce security software, install anti-virus solutions and keep automatic software updates turned on.
- Use spam filters as they can block phishing and whaling mails, and malicious software spams.
- Implement high quality encryption standards for transmission of sensitive information to and from websites and apps. HTTPS offers a higher level of security. So, if required, you should do Http to Https migration.
- Secure Sockets Layer (SSL) encryption will also ensure that all data passed between the web server and browsers remain private and integral.
- Make sure you have PCI compliance on your e-commerce store. The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store or transmit credit card information maintain a secure environment.
Your customers depend on you to provide secure systems and infrastructure to protect against cyber threats. If you fail to do so, your customers will walk away. Give them and yourself a peace of mind by thwarting cyber attacks.
The post Warning: How Safe are Your Customers from New Threats? appeared first on varstreet.