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Enterprise Security Magazine | Tuesday, May 24, 2022
E-commerce security challenges are wreaking devastation on online commerce. The online trading domain experiences up to 32.4% of all the challenges that the e-commerce sector faces each year.
FREMONT, CA: There is no denying the fact that e-commerce security challenges wreak havoc on online transactions. The online industry experiences up to 32.4% of all the challenges that the E-Commerce sector faces each year. Hackers often target e-commerce store administrators, users, and employees using a multitude of malicious techniques. Following are some common challenges that E-Commerce today is facing that one needs to
Financial Frauds
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There are several types of financial fraud prevailing in the industry, such as credit card fraud and fake return and refund fraud. Credit card fraud takes place when a cybercriminal uses stolen credit card data for purchase from e-commerce stores. On the other hand, fake return and refund fraud occur when some fraud people having no authorization carry out unsanctioned transactions and delete traces, causing heavy damage to the business. Installing an AVS - Address Verification System in a store will assist one in detecting and preventing such activities.
Phishing
Some e-commerce stores have received reports that their customers are receiving messages or emails from hackers posing as the legitimate owner of the store. These scammers provide fake copies of pages from websites or other reputable sites to trick users into believing them.
Spamming
Some fraud people may send infected links via email or social media inboxes. They can also leave these links in their comments or posts on blog posts and contact forms. When you click on those links, they take you to their spam sites where you can fall a victim. In addition to reducing the security of your website, spam also reduces its speed and severely affects performance.
Bots
Some attackers develop special bots that can scan one’s website for inventory and pricing information. These hackers can then use the data to lower or change prices on their website to reduce one’s sales and revenue.
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