Security Holes in Global E-Commerce Retailer Sites

Thursday, October 10th, 2019

Recent research has revealed many securities holes in e-commerce retailer websites. To dig deeper into the topic, just keep on reading the article below.

Security Leaks by E-Commerce Retailer Sites

According to recent research, Magecart groups have compromised over 80 global e-commerce sites. “Magecart” is a term used for multiple threat groups that spread viruses to e-commerce platforms and websites via credit card skimming technology. The purpose is to get access to personal and financial information.

Virtual credit card skimming is also known as formjacking. According to the research, a large number of web applications that online shopping sites use lack proper protection.

Specifically, formjacking attacks use malicious JavaScript codes to skim credit card information and other sensitive data from payment pages. So, hackers use these attacks and obtain that information to use it to their “advantage.” This type of virtual skimmers is also called “JavaScript skimmers,” “JavaScript sniffers” or “JS sniffers.”

Symantec published another report prior to this research and showed that about 4.800 websites were being targeted by formjacking attacks on a monthly basis. So, what are you doing to avoid becoming a lucrative target for e-commerce security threats? Are you working with a reliable and secure payment processor that can protect your transactions to the best possible extent?

This can’t be an issue if you turn to a respectable payment processor comparison company in the UK like Best Payment Providers. Best Payment Providers is dedicated to providing the highest level of fraud protection for e-commerce retailer sites.

Thanks to Best Payment Providers, you can be sure to use the most advanced fraud protection and prevention techniques, as well as the latest chargeback mitigation services in the industry. Moreover, Best Payment Providers will find the cheapest and easiest approval processes for you.

In addition, Best Payment Providers pays special attention to terms, complaints, and integration, and guarantees the most honest snapshot of companies at the time of writing.

Virtual Credit Card Skimming Threat

The threat of virtual credit card skimming is “spreading its wings” all over the world with greater intensity. This is a growing problem around the globe, as Alissa Knight, a cybersecurity analyst for Aite Group, says. The latter is an independent research and advisory company.

As you know, even large retailers have experienced security breaches, and many of them were caused by security flaws in their payment systems. Did you know that many people that log in to an e-commerce website are attackers using stolen data? By the way, this represents the highest percentage among all sectors.

According to cybersecurity companies RiskIQ and Trend Micro, cybercriminals of a new subgroup of Magecart, called “Magecart Group 12,” successfully compromised about 277 e-commerce sites via supply-chain attacks some time ago. Microsoft’s CEO Satya Nadella notes that the black markets of DDOS, phishing, and scamming attacks are now quite organized.

To sum up, research by Aite Group has revealed that Magecart groups were actively compromising over 80 global e-commerce sites. Find a secure processor to avoid fraud attacks as much as possible.