Cyber security is the talk of the town for all business verticals including the e-commerce industry. Without placing proper security practices, online businesses put themselves and their customers at a higher risk of online frauds. Small businesses have a high risk of security hacks due to lack of internet security from cybercrimes. According to a recent report, one in five small business retailers face credit card frauds every year. This is why businesses need to invest in security testing companies to test their systems and applications.
These cyber attacks are not only limited to hacking, but fraudulent payment systems pose greater risks to all e-commerce businesses. These security issues cause financial issues and also affect a brand’s image adversely. During online shopping sales and promotions like Black Friday, etc. the risk of these attacks increases.
Cyber attackers generate phishing attacks in which they target user’s data such as their login credentials and credit card numbers. They use such attacks as social engineering methods where an attacker threatens an identity and victims fall for the attack by simply opening an email or text message. Thus, security experts at security testing companies need to keep a track of all these recent events to keep enterprises safe and secure.
Credit Card Frauds
An attacker can extract credit card information and sell the data. Third-parties can use this fraudulent data to mine the highest value via ATM withdrawals, transactions, etc.
A small e-commerce website is more vulnerable if its DNS provider is targeted. A high-profile e-commerce site is more susceptible to DDoS attacks. It can overload the system, slow down and take the site temporarily offline, refraining users from accessing the site or placing orders.
An SQL injection is a harmful attack that uses SQL databases, that includes various e-commerce platforms. A hacker inserts malicious SQL that seems like an authentic SQL inquiry. In this attack, the hacker is the administrator, to view, erase or manage the victim’s database.
Bots exist all over the internet, and they can be good or bad. Bad bots collect information from websites such as card details, login details, etc. to take control over real accounts by guessing the passwords. According to research, 97% of websites are hit with bad bots.
Security testing companies keep a close check on all enterprises to ensure that they do their best in securing them and also to ensure that they only use secure systems and applications for their business growth. They can help in minimizing the threat of fraud and gain their trust from the customers. By performing strong security tests on e-commerce applications, firms can reduce the number of errors and keep away from the threat actors.