As e-commerce continues to grow, so do the threats posed by cybercriminals bringing the need for E-commerce cybersecurity to the fore. Phishing attacks have become a significant concern, endangering businesses and consumers. In this blog post, we'll delve into the risks posed by phishing attacks on e-commerce and discuss how organizations can mitigate these risks through comprehensive training and Jericho's advanced phishing simulation platform.
Security Threats to E-commerce Go Up with Phishing Attacks the Main Culprit
Numbers always tell a story. Unfortunately, in the case of E-commerce cybersecurity, the numbers tell an alarming story. Going by the numbers released by multiple independent sources (below), security threats to E-commerce are on the rise. In fact, they’re rising alarmingly fast as the availability of AI makes it easier for malicious actors to make phishing attacks even more sophisticated.
- 250% growth in phishing attacks between January 2021 and May 2022. (Source: INKY)
- $44 million in losses from August 2019 to December 2021. (Source: FBI)
- 5.6% of all phishing attacks targeting this industry. (Source: StationX)
- $40 billion in online payment fraud, often a result of phishing (Source: Statista)
These statistics underscore the importance of implementing comprehensive cybersecurity measures, such as regular employee training and powerful email security solutions, to safeguard e-commerce businesses from the persistent threat of phishing attacks.
How to Deal with E-commerce Security Threats
The big question, however, is how to deal with these E-commerce security threats. While information security can be handled through tech upgrades, the weakest chink in the armor is employee gullibility and lack of security awareness. This is why companies should provide training to their employees to prevent phishing attacks on e-commerce platforms. But, what does the actual process look like? There are three layers that can be put in place to combat security threats in E-commerce arising out of human ignorance.
Educate employees on E-commerce Security Issues Such as Phishing
- Teach employees about the dangers of phishing, how to identify suspicious emails, and the importance of adhering to cybersecurity protocols.
- Regularly conduct phishing awareness training sessions to keep employees up-to-date with the latest phishing techniques.
Simulate Phishing Security Threats in E-commerce Environments
- Use advanced phishing simulations that leverage AI to create realistic phishing scenarios and test employees' readiness to detect and report such attacks.
- Provide instant feedback and recommendations for improvement based on their performance.
Secure your E-commerce Organization by Fostering a Security-Conscious Culture
- Promote a culture of security awareness by encouraging employees to share information about phishing attempts and best practices.
- Reward employees who demonstrate exceptional awareness and quick response to potential threats.
E-commerce Cybersecurity and Phishing Training is the Need of the Hour!
Phishing attacks pose a significant threat to e-commerce cybersecurity with businesses and consumers alike at risk. Organizations must proactively educate and train employees to identify and respond effectively to phishing attacks. Organizations can significantly reduce the risk of phishing attacks and protect their valuable assets by partnering with Jericho for comprehensive phishing training and simulation.
