Top Security Threats Facing E-commerce Websites in 2024

The eCommerce landscape is constantly evolving. While the digital shift has provided immense opportunities for eCommerce businesses, it has also introduced new challenges and threats. As we move into 2024, eCommerce merchants need to be aware of the latest threats to protect their business.

In this article, we’ll unravel the security threats of 2024 that have been making waves in the cyber domain. The surge in e-commerce was a snowball rolling down a hill, 2024 has turned it into an avalanche.

1. Phishing Attacks:

Phishing attacks, ranking first among the top e-commerce security threats, have evolved beyond generic spam emails. In 2024, they’ve become more personalized and deceptive. Phishing involves cybercriminals attempting to deceive users into providing sensitive information such as login credentials, credit card numbers, or personal identification.

A client can receive such emails and assume they are from a trusted e-commerce store. These emails are captivating, making the target customers believe their source. Such attacks can tarnish your e-commerce reputation and, even worse, lose potential customers. To mitigate this threat, educate your customers on recognizing phishing emails and implement email authentication protocols.

2. Malware and Ransomware:

Malware refers to malicious software designed to infiltrate and damage computer systems. Malware can steal customer data, disrupt operations, or redirect customers to fraudulent websites. Ransomware can lock down critical systems or customer data, demanding a ransom payment for restoration. Regularly updating software and employing robust antivirus solutions can help protect against these threats.

3. SQL Injection:

With Structured Query Language (SQL) injections, the attacker tries to take advantage of vulnerabilities in the code of an application by putting an SQL query in place of what should be there, such as a password or username.

These queries can manipulate the database, allowing attackers to gain unauthorized access to sensitive data, alter records, or even delete the entire database.

4. Cross-Site Scripting (XSS):

XSS injects malicious scripts into your website. Attackers exploit vulnerabilities to embed scripts that run unnoticed in a customer’s browser.

These scripts can steal sensitive data like credit card information, hijack checkout forms, or redirect users to fraudulent websites, causing financial loss and damaging customer trust. Product reviews, search bars, and customer accounts with weak validation are prime entry points for XSS attacks.

5. DDoS Attacks:

With a distributed denial-of-service (DDoS) attack, the attacker inundates a website with many false requests. Attackers use a network of compromised computers, known as a botnet, to flood the website with requests, causing slowdowns or complete shutdowns.

When such an attack happens, your eCommerce business can crash, leading to massive sales and loss of income.

6. Man-in-the-Middle (MitM) Attacks:

Man-in-the-middle (MitM) attacks are a serious threat in e-commerce. In this attack, hackers position themselves between a customer and your website, acting like a hidden eavesdropper. Public Wi-Fi networks are a prime target, as attackers can intercept data transmitted over these unencrypted connections.

The real danger lies in stealing sensitive information like usernames, passwords, and credit card details entered during checkout. With this stolen data, attackers can gain unauthorized access to accounts, make fraudulent purchases, or even sell the information on the dark web.

7. Supply Chain Attacks:

As e-commerce companies rely heavily on third-party services for various applications, these attacks have become increasingly common. Supply chain attacks target weak links in your e-commerce network, like vendors or software providers. An example includes attackers compromising a third-party payment processor to access an e-commerce site’s customer data.

8. Credential Stuffing:

Credential stuffing involves attackers using lists of compromised usernames and passwords from other breaches to gain access to user accounts on e-commerce sites. Hackers can steal customer data, hijack accounts, or commit fraud. Since many people reuse passwords across multiple sites, this tactic can be highly effective.

9. Carding Attacks:

Carding attacks are a form of automated payment fraud that targets e-commerce businesses. In this attack, fraudsters leverage stolen credit card information to make unauthorized purchases on your website. Attackers typically make small purchases to validate the cards before using them for larger, more profitable transactions.

10. E-skimming:

E-skimming, also known as Magecart attacks, involves inserting malicious code into an e-commerce website to capture payment card information during checkout. The Magecart attack is a severe e-commerce security threat. These kinds of attacks affect commercial websites by injecting malicious JavaScript-based code into the website’s checkout page.

This code is designed to steal important client information, such as billing addresses and credentials. It’s essential to emphasize that Magecart assaults could also have an impact on third-party suppliers that your online businesses might rely on.

Conclusion:

E-commerce security is an ever-evolving challenge. The threats we face today may mutate or evolve, and new threats may arise. It’s critical to exercise caution and follow recommended e-commerce security practices. Regularly updating software, educating employees and customers about security practices, and continuously monitoring for suspicious activities can help mitigate these risks and ensure a secure shopping experience for your customers.

Our next article will explore the best security practices for e-commerce stores to help you fortify your defences against security threats. Stay tuned for more insights and tips to keep your e-commerce business safe and thriving in the digital age. Don’t miss it!

Contact us now for a free security assessment and consultation. Stay secure and keep your customers safe!

Evrig Solutions