On E-handelskonferecen 2023, we had the privilege of diving into the intriguing world of brand safety and security, highlighting the crucial connection between brand safety and security. In this blog post, we'll distill their conversation into key points to explore the critical role of e-commerce security.
The Stark Reality of E-commerce Security
Tommy, our security expert, kicked off our discussion with some alarming statistics. Security's importance in e-commerce is often underestimated. Nearly one-third of web applications harbor critical vulnerabilities that can compromise a company's online presence.
To paint an even more concerning picture, up to 70% of these web applications lack protective measures, leaving them wide open to cyberattacks. Imagine investing in a high-performing web application only to face a security breach that could jeopardize your business.
Lessons from the Statistics
These statistics send a clear message: the probability of things going wrong is significant. With countless potential attackers probing for vulnerabilities, it's only a matter of time before they breach your defenses. High-profile cases of ransomware attacks shutting down businesses illustrate the severity of the consequences, including damage to reputation and loss of customers.
To emphasize the importance of e-commerce security, Tommy shared a few real world examples:
An infected machine mistakenly connected to the administrative network during a server move, resulting in a ransomware attack that shut down all services. Such an incident can lead to the demise of e-commerce businesses. Always remember an offsite backup.
The Impact of vulnerable web applications
Misconceptions about web security were debunked, highlighting the need for more than HTTPS and DNS security extensions. Tommy discussed experiences from an incident response case, where neglecting plugin updates led to malware injections on a WordPress-based e-commerce site, impacting SEO, online advertising, and trust. Another example was brought up from a previous offensive engagement, where an exposed admin interface of an application server led to the complete compromise of the customer infrastructure mainly by the ability to upload a webshell component.
Long-Lasting Effects of Security Breaches
The aftermath of security breaches is costly and enduring. Recovery efforts affect revenue and the reputation built over years. Tommy stressed the need to make a business case for investing in security. Neglecting security isn't just a technical concern; it's about safeguarding your brand and business.
Tommy and Jesper discussed the prevailing threats and challenges in e-commerce security, addressing issues like default logins and tight budgets. Effective security solutions may be seen as costly, but inaction can be costlier.
To mitigate these risks, their organization offers services such as web application analysis, security advisory, and continuous monitoring. Taking security seriously and proactively addressing vulnerabilities can safeguard your brand and minimize potential damage.
In summary, security challenges in e-commerce are real, but businesses can minimize risks through proactive measures, security-first thinking, and continuous vigilance. Prioritizing web application security is essential to protect your brand, maintain customer trust, and secure your bottom line.