Cyber Monday Protection in 2018
The usual advice will always be the same when it comes to protection during Cyber Monday for online shoppers. Don’t save your financial info on websites, and watch it for deals that are too good to be real and the obvious email scams. Let’s also state that online retailers and big e-commerce businesses need to hold up their end of the security protection deal as well as the regular consumer.
Retailers across the country need to keep these security best practices implemented to keep their customers safe as well as protect corporate networks during the crazy shopping days of post-Thanksgiving shopping.
- Protection at all times
As noted by Forbes, cyberattackers don’t work a regular 9-5 job. And this is why, fraud rates may increase during off-peak traffic hours when there are fewer consumers shopping, as well as less security personnel on duty.
Retailers should consider adding extra information security staff for the holiday season or implementing additional fraud checks for purchases made from different countries or after usual business hours.
- Limit Purchase Velocity
Speed is another way malicious actors attempt to defraud Cyber Monday retailers. Instead of making high-value transactions that may be flagged as suspicious, attackers often make high-volume transactions — up to 10 times more quickly than legitimate users — to generate greater revenue.
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- Authenticate Users
Authentication is critical to Cyber Monday security. With many users still using weak passwords across websites — many of which are stolen in phishing scams — retail companies should implement two-factor authentication (2FA) wherever possible. Even low-friction options such as email or mobile codes can significantly reduce fraud and boost consumer confidence.
- Separate Infrastructure
With many retail merchants now deploying both online and in-store sales to capture customer attention across Thanksgiving weekend, there’s an emerging need to separate point-of-sale (POS) and corporate infrastructure. This ensures that in-store device breaches don’t compromise e-commerce sites, and vice versa.
- Manage Permissions
Who has access to what, when and why? Threat actors often exploit the chaos associated with Cyber Monday to infiltrate networks, install keyloggers and wait. It’s time for retailers to implement effective identity and access management (IAM)solutions that permit granular, permissions-based assignments of roles and responsibilities to foil criminal attempts to breach corporate systems.
Attackers are gearing up for one of the most lucrative days of their year on Cyber Monday. For retailers and e-commerce sites, the combination of increased consumer spending and security expectations demands stringent security practices that account for common threat vectors, prioritize user authentication, separate infrastructure and effectively manage permissions inside and outside the enterprise.
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