As an eCommerce store, you will work hard on creating a comprehensive product catalog, a flexible online storefront, and a stellar marketing strategy.
But all of this can go in vain if you do not have the right security measures and strategies to protect your eCommerce website security. After all, even the smallest javascript errors or vulnerabilities on your website can be exploited to cause a major financial loss for your eCommerce store.
With that in mind, let us look at some of the most serious eCommerce website security threats that you should protect your online store against.
10 Most Serious eCommerce Website Security Threats
1. Malware and Ransomware
One of the most common yet serious eCommerce website security threats can arrive in the form of malware or ransomware. Malware refers to a situation wherein hackers might install malicious software on your computer systems without your knowledge.
These software programs have the potential to ruin your computer system completely when they include viruses, trojans, or ransomware. Ransomware is a specific program that steals valuable data from your system. Hackers can hold this against you or even lock you out of your systems. In such cases, you will regain access to your data only after you pay the hacker the amount they ask for.
2, Brute Force Attacks
Brute force attacks get their name from the nature of these attacks. In such attacks, hackers are unafraid to use ‘brute force,’ which means repeatedly attempting to guess your password or security PIN.
Hackers would mostly utilize automated scripts to run numerous combinations of numbers and letters till they find the right one. Such attacks can be prevented by changing passwords regularly and ensuring that you set a password that is hard to guess.
3. Bots
Some hackers will take a more sophisticated approach to attacking your website. They develop specially designed bots to scrape specific kinds of data from your website or perform certain actions on it. They could end up stealing important data in the process, which they use to manipulate your strategies.
Hackers carry out these highly targeted attacks to ruin your sales and revenue, and derail your eCommerce website security. Competitors who might directly benefit from this type of attack often back these hackers.
4. Cross-Site Scripting (XSS)
If your eCommerce website is vulnerable in any way, you risk opening yourself to a cross-site scripting attack. You see, an XSS attack will not necessarily threaten your entire website but will threaten the sensitive data stored on your website.
Through XSS attacks, the customer data on your website will be exposed to malware and phishing by planting a specific piece of malicious code into your website code. As a result, your website could become more vulnerable to attacks on your databases.
5. Phishing
Phishing emails are one of the most common forms of cyber-attacks across industries, and the eCommerce industry is no exception. However, the issue in this case is that your customers are getting attacked by malicious emails that are threatening your eCommerce website’s security at the same time.
While most phishing emails have tell-tale signs, highly sophisticated ones are tough to spot as they utilize high-quality graphics or fake copies of web pages to convince users to take action.
6. DoS and DDoS Attacks
DoS and DDoS attacks have been around since the very beginning, but for eCommerce websites, they can translate into huge financial losses. In a denial of service or DoS attack, a hacker floods your system with requests from an untraceable IP address, resulting in a crash and preventing legitimate users or potential customers from accessing it.
DDoS attacks are similar, but here, hackers use your computer to attack the other computers in the same network. Such attacks ultimately lead to loss of trust and revenue.
7. Social Engineering
Social engineering is a common, albeit high-risk, security threat for an eCommerce business in the growth phase. In such attacks, hackers take eCommerce brand representatives or customers into confidence on social media platforms or other mediums. They then manipulate them into divulging confidential information that they exploit.
Such an attack can cause losses when targeted at an eCommerce brand. It can also cause your brand to lose credibility and trust among users.
8. Financial Fraud
Financial fraud is perhaps one of the biggest security threats to eCommerce companies and a demotivating factor for online shoppers. After all, financial fraud in eCommerce websites can take different forms, such as credit card fraud, fake return and refund fraud, or payment gateway fraud.
A credit card fraud can result in a hacker stealing your card details and using it to conduct transactions. Hackers may even impersonate customers to file fake returns or refunds that can cause financial losses for companies.
Whether you are a startup or an established eCommerce business, you can use plugins and apps to prevent these threats. For instance, Shopify apps such as SEON, Signifyd, and NoFraud offer Shopify websites basic protection against threats.
9. API Attacks
The architecture of a typical eCommerce website extensively utilizes APIs, making it an easy target for hackers and cyber attackers. An API attack refers to using APIs on your eCommerce websites to cause serious threats such as access violations or data leaks.
As an eCommerce store, you will always face the threat of data breaches and the exploitation of weaknesses using APIs. These eCommerce website security issues can cause data losses and service disruptions for your online store.
10. Man in the Middle Attacks (MITM)
Man-in-the-middle attacks are caused by a malicious party or a hacker listening in on communication between your store and users.
If your systems are connected to a weak or insecure WiFi connection, you may be attacked. To prevent this kind of attack, having a strong and safe network should be part of your cybersecurity measures.
Concluding Remarks
When you are an eCommerce company on a growth trajectory and performing well, threats to your eCommerce website security will only slow you down. It is good to be aware of these revenue-hurting cyberattacks that can threaten your website and take measures to prevent them.
Use the information shared above to implement robust security mechanisms to safeguard your website against these malicious threats and prevent potential financial losses.
