KUALA LUMPUR, April 7 —The e-commerce sector is advised to be vigilant of possible cyber attacks during the festive season as heightened online retail activities present an opportunity for cybercriminals to exploit, said cyber security solutions provider Fortinet.
Fortinet country manager for Malaysia Dickson Woo said online retailers must adopt a proactive stance in cyber security as they are more frequently targeted compared to other industries.
“Cybercriminals capitalise on the festive rush as shoppers may be more inclined to make hurried purchases, potentially overlooking security precautions.
“Neglecting to address these risks can leave consumers exposed to various dangers, including identity theft and payment information theft,” he told Bernama.
According to Woo, the retail and e-commerce sectors are attractive targets for cybercriminals due to the large amount of money and personal data involved.
“Failure to address cyber threats and neglecting data protection can expose consumers to risks like identity theft and financial fraud,” he added.
Lack of data protection, strategies to secure
Woo stressed that a lack of data protection in the retail sector can lead to identity theft, where criminals use stolen personal information to commit fraud or other illegal activities in the consumer’s name which can result in financial losses, damage to credit ratings, and a long and complex process to restore identity.
There is also the risk of unauthorised access to personal information, which can be used for malicious purposes, such as targeted phishing attacks or selling the data on the dark web, he said.
To tackle this, retail businesses should adopt a holistic and multi-layered approach to cyber security, encompassing technology, processes, and people, he said.
They should have integrated threat intelligence systems with their wider security architecture for better visibility and automate actions to eliminate threats and prevent future incidents.
“By pairing orchestration solutions with artificial intelligence-driven automation, routine tasks can be handled automatically, reducing human error and freeing up security teams to focus on more critical threats,” he explained.
Additionally, retailers should also develop comprehensive response plans for breaches, create backups of essential data, as well as educate employees and customers about social engineering risks and scams. — Bernama
