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We all have observed that e-commerce has evolved so much in such a short span. The increasing advancement of e-commerce shows the rapid growth and development of a nation. It’s a great platform to help people across the world. But life is not a bed of roses. The only pain point for the e-commerce industry is cyber threats. Let’s study in detail about them.
What is a cyber threat?
You’ve have often heard the word ‘cyber threat’ in your computer classes or somewhere else. But what exactly are these cyber threats?
A cyber threat is a malicious act that aims to damage and steal the data. It includes computer viruses, data breaches, and DoS attacks. They have become increasingly dangerous to the system. Cyber threats can affect the functioning of the phone and computer network. It can come from several organizations such as terrorist groups, criminal organizations, hackers, etc.
Types of cyber threats in the e-commerce
Phishing is the most common cyber threat that mainly comes from an email or message. Many e-commerce suffers an attack from a group or individual who sends an email which basically spams the online portal of the business to steal the important data. It can be further divided into 5 categories:
1. Email phishing
2. Spear phishing
4. Smishing and vishing
5. Angler phishing
• Malware attack
Malware is the short form of “malicious software”. It is a software developed by the intruders to cause damage to your computer network and to gain access to your data without your knowledge. It can occur on all sorts of devices including Android and iOS. Different types of malware include viruses, spyware, and Trojan horses.
• Password breaches
A password breach generally occurs when someone tries to gain unauthorized access to a protected system and can lead to system damage and loss of data. It can be done physically by accessing the computer to steal files or by virtually. Some major causes of password breaches are:
1. Old security vulnerabilities
2. Use of weak password
3. Sharing of password
5. Physical theft
• Credit card fraud
Credit card fraud occurs when someone steals your credit card or steals the information from the card to make unauthorized purchases on your name. It is also considered a form of identity theft as someone is using your identity to make fraudulent purchases.
• DDOS attack
DDOS stands for distributed denial of service attack. It is an attack in which multiple computer systems attack a target such as a server or other network and cause a denial of service for the targeted users. It basically hampers the server for the host connected to the internet.
Most common sources of cyber threat
• Industrial spies
• Criminal groups
• Business rivals/competitors
• National government
Reasons behind cyber threat/attacks
• Financial detail of the business
• List of the clients
• Personal data
• Spying on competitors for the unfair advantage
• Database of the customers
• Customer’s financial details
Cyber threat hunting
It is an active security function/activity that proactively searches through the network to detect the threats and stop malicious activity. It is an innovative technology that attempts to stop the attack before they get too deep.
How to prevent cyber threats?
• Give proper training to the employees in cybersecurity principles.
• Install a firewall
• Install and keep updating antivirus software.
• Set at least 8 digit strong password.
• Backup files of important business data and information should be made.
• Secure and hide your Wi-Fi networks.
• Regularly change your password to avoid unauthorized access to your system.
• Limit employee access to data and software.
• Conduct proper maintenance.
• Use a VPN ( virtual private network)
How technology can help to overcome cyber threats?
• Building a blockchain – it can help to fight against cyber threats. Once a blockchain is created, it cannot be deleted or altered. It is used by the organization to secure the information. Companies using blockchain are Wal-Mart, Microsoft, and UPS.
• Advanced communications – the organization can minimize threats by taking advantage of all forms of communications technology.try to have access to various social media apps such as Snapchat where you can information with large no. of people.
• Tools for threat identification – there are several types of technologies in the form of detection and protection tools that you can consider as a plan against cyber threats. These tools can easily identify attacks and transfer data before the damaged or accessed.
• Cyberattack notifications – there are some tools that send alerts to the users regarding unauthorized access at the right time, so they can fix problems on time. These tools play a role in protecting your system against any threats.
It is common for business organizations to get the unwanted attention of intruders. It is obvious that businesses get worry about the cyber threats. But even if a company is targeted, it is possible to protect them by good security and maintenance.