Internet retailers are waging a two-front war. On one front, they face growing competition that’s forcing them to shave costs and operate more efficiently. On the other, they’re fending off cybercriminals who are using myriad tactics to eat into their profits and hamstring their businesses.
That’s making life difficult for an online retailer like Find Me A Gift, which sells a wide range of gadgets, toys and personalized gifts, says Richard Grove, the retailer’s information technology manager. “Small businesses [like Find Me A Gift] are increasingly coming under attack as hackers target smaller companies because they know many don’t have the infrastructure or skills needed to fully secure themselves.”
Successful and attempted cyberattacks in the online retail industry are growing. The number of cyberattacks that were identified and prevented in the third quarter of 2017 was double that of the same time period in 2015, according to digital identity firm ThreatMetrix’s “2017 Q3 Cybercrime Report.” And those are only the attacks the industry knows about, which many industry experts suggest may be just the tip of the cybercrime iceberg. As bad actors get better at plying their illegal trade…