Cyber Monday is the carnival of retailers and consumers. Businesses offer exclusive deals on products and services during this period and shoppers have merry time buying goodies in bulk. However, this is also the time when hackers are active in their business causing security breaches, frauds and what not! They are continuously working to infest the POS terminals of e-commerce retailers with malware. A small online breach during this day of immense profit can severely impact an e-commerce business. Frauds not only impact a consumer but also a business with the loss of resource as well as reputation. So how to deal with cyber threats and have a safe and profiting Cyber Monday?
The Cyber Monday Scenario
Research shows that e-commerce portals experience a 48% increase in overall traffic during Black Friday and Cyber Monday. The holiday season also experiences 20% increase in bot traffic of these sites compared to the previous weeks. With all good news for e-commerce retailers with respect to traffic, there is bad news because of an increase in unsophisticated and easy-to-detect bot attacks by 23%. This clearly shows that the probability of planned sophisticated attacks can be higher which can lead to more loss for an e-commerce enterprise than profit.
E-commerce websites need to secure their portals as well thoroughly. Any unaddressed vulnerability can leave space for security threats like DDoS or phishing. Hackers will be waiting to phish in data and cause online frauds as heavy traffic flows in e-commerce portals. With the increasing demand for skimmers and blank card templates in the black market, there is a serious need to implement high-level antifraud solutions during the Black Friday and Cyber Monday sales.
The cybersecurity checklist for e-commerce websites
If you’re an e-commerce retailer, we have prepared a list of the security measures that you need to tick off to make most of Black Friday, Cyber Monday sale and the entire holiday season.
- Ensure your website platform is up-to-date
- Use an updated browser as the risk of a real customer using an old version of a browser is low; most browsers send auto-updates to users.
- Update your alert threshold so that you can cater to larger traffic
- Put together a team to take care of frauds and bot attacks
- Implement security solutions for the protection of POS Terminals
- Check for gift card validation failure. Set an alert system for such failure so that you can detect if any malware is trying to steal gift card balance.
- Monitor every failed attempt to log in. Set a definite baseline for such failed logins and then monitor the spikes.
- Be prepared for a DDoS attack with a protection plan in place
- Run a website audit to look for online skimmers
- Create awareness among customers about potential phishing activities
If you’re looking for some last minute fixes, approach a security vendor who can run quick penetration testing for your network and applications. Last but not least; secure your business internally by creating security awareness among employees. A small irresponsible action can give way to a major breach. It is important to enlighten them about cybersecurity threats during the holidays with the help of security analysts.
Let this Cyber Monday be a safe one while you drive sales.