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Cybersecurity remains to be the top priority for companies that are doubling down on e-commerce. Online transactions are growing and in 2021 alone, e-commerce sales comprised 13% of all transactions.
Technology is making it easier for consumers to shop, but this reliance on web platforms and apps comes with great risk. For this reason, companies and consumers will need to be aware of the latest cyber threats coming their way this year.
It pays to be prepared, so here’s a list of the cyber threats to watch out for as you work on improving your cyber defenses.
- Social engineering tactics
With the introduction of AI-driven cybersecurity programs, organizations are confident about detecting and dealing with potential threats early on. This should give you no reason to let your guard down. Hackers are also using psychological tactics that push people into surrendering personal information without them knowing.
These methods include posting quizzes on social media and diverting emails to a malicious address. Learning about these methods can help users detect possible attempts to expose valuable data. For your part, you can educate your audience about these risks and walk them through how to secure their personal information.
- Ransomware
While not a new threat to cybersecurity experts, ransomware is shaping up to be a serious risk to organizations this year. TechTarget noted the rise of ransomware cases in 2021. We can expect ransomware to be a top concern for vendors that handle large amounts of customer data. Unlike targeted attacks, ransomware aims to push your organization to a corner by threatening to release classified information if you fail to pay a ransom. If you have valuable trade secrets, you might as well adopt the right tools and techniques.
The U.S. Chamber of Commerce suggests adding multiple layers to your security network and training employees on how to spot possible ransomware entry points. If you are using an ID scanner app for customer verification, use one that captures data offline. You should also back up your data regularly so you will minimize the effects of a possible breach.
- Brute force attacks
Considered an old-school tactic, brute force attacks remain to be a considerable threat, especially to organizations that haven’t strengthened their defenses this year. The best way you can prevent these types of attacks is to limit the number of failed login attempts to prevent hackers from accessing the accounts of your customers. You might also want to enable two-factor authentication and CAPTCHA which can help stave off bots.
In addition, you should also implement IP address and location restrictions. This allows you to restrict users outside your market or demographic. That way, you won’t have to deal with hackers operating remotely. In any case, it’s always important to set up additional security layers so you will be able to protect your website and other assets against brute force attacks.
Investing in better cybersecurity helps defend your organization and your customers from the increasingly sophisticated techniques hackers employ. You just need to know what you are up against so you will be better prepared.