How To Protect E-Commerce Apps Against Cyber Fraud
By Prempal Singh
Cyber crime is fast increasing and costing the global economy approximately $445 billion a year.
E-commerce is the backbone of companies in the digital economic. It is almost impossible never to have instant gain access to software program as online banking, shopping online, and so on. Defending e-commerce applications against fraudulent activities from cyber criminals is a challenging task. Whatever your cyber fraud defense strategy, an Application Delivery Controller (ADC) should be part of your defense-in-depth arsenal.
The Challenge
A common strike vector for web deals is the ability of an attacker to put in malicious malware in a victim’s browser. This type of client side browser attack is made current within a browser period where malware is filled. The infected machine can then be tricked to carry out malicious activities such as background financial transactions, password collection, browser redirection, etc.
As the number of ‘zombie’ devices increase worldwide with always-on connectivity provided by home and mobile high speed the risk of online financial fraud is much greater. Sophisticated online scam transactions by using a wide range of attacks methods across mobile and desktop devices are on the growth. With an estimated prediction of 6. 4 billion linked devices by the end of 2016 (Source: Gartner), this challenge is not going away and will become worse.
How To Tackle It
Businesses with Internet facing e-commerce systems handling financial transactions must deploy a range of cyber security measures in any way layers – from the physical to the software layer. A dedicated Internet Fraud Prevention System is required to deal with complex attacks targeting internet browsers and web transactions. Many of these security systems, unlike Internet Application Firewalls, are specifically designed to combat e-commerce and financial fraud by screening client side financial transactions, file transfers, web browser code execution, and so on.
Cyber Security Vendors At The Rescue
At the minimum, a strong Internet Fraud Prevention System should provide an efficient and complete protection against commonly web fraud attacks. Some of the key ones include:
- Generic malware protection
- Internet injection protection
- Credential robbing protection
- Man-in-the-browser (MITB) protection
- Man-in-the-middle (MITM) protection
- Session hijacking protection
- Phishing security
- Website integrity protection
A lot of security vendors are becoming a member of forces to combat these kinds of threats that are increasing dramatically. For example, F5 Networks and Clearswift have joined forces in a partnership to allow businesses to increase their security against cyber fraud. Using complex real-time cyber threat intelligence the partnership between F5 Networks and Clearswift will give you a comprehensive protection against financial fraud. By using Security Operations Centres (SOCs) located around the globe with an efficient “honey pot” capacity to collect, analyze, and mitigate against the most advanced financial web scam attacks.
This Challenge Is usually Not Going Away
Cyber fraud is rising significantly. Enterprises with Internet facing e-commerce systems are specifically vulnerable as cyber-criminal looking for ways for quick earnings. With 6.4 billion linked “things” in use by 2016, this problem is not going away and will certainly become worse. A dedicated Web Scam Prevention System should be part of your defense-in-depth arsenal to defend against targeted and complex internet fraud attacks.
Source: www.icyber-security.com