Why e-commerce security is needed now more than ever (Includes interview)

With the coronavirus pandemic showing little sign of declining, online shopping remains the main choice for many people. However, the online retail experience places many people at risk from a cyberattack. Behaving more securely when you are shopping online will help protect you against these common forms of cybercrime: Phishing; […]

With the coronavirus pandemic showing little sign of declining, online shopping remains the main choice for many people. However, the online retail experience places many people at risk from a cyberattack. Behaving more securely when you are shopping online will help protect you against these common forms of cybercrime: Phishing; theft of data; malware; and from counterfeit goods.

Considering the cyber-safety issues for Digital Journal is Mark Crichton, Senior Director of Security Product Management at OneSpan.

According to Crichton, being savvy to the risk of cyber-fraud is of great importance: “Whether consumers are turning to online shopping to make up for missing the excitement of hitting the high street or browsing the Internet for deals to pass the time during lockdown, it’s important that they stay safe when shopping online this season. Due to on-going restrictions consumers are preparing for digital holiday shopping but they need to stay vigilant to avoid falling foul of malicious links as they look to cash-in on ‘too good to miss’ deals.”

Crichton adds that the forthcoming winter period “gives those looking to exploit consumers 96 hours where their guard may come down during the shopping frenzy. This year the threat is increased as recent research showed that 48% of UK consumers plan to avoid busy shopping areas and this traffic will drive undoubtedly increase ecommerce activity. It is likely that consumers will be exposed to more attacks this year and shoppers must stay vigilant as legitimate offers from retailers, via email and text, could be replicated by cyber criminals.”

There are measures that the finance sector can take to help to safeguard consumers from risk, according to Crichton: “Technology can be utilised by banks, as well as e-commerce businesses, to quickly ensure customers remain secure during times of heightened risk. Cloud based multi-factor authentication provides digital platforms with more security to protect consumers from social engineering and phishing attacks – which will be crucial during this busy shopping period.”

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