The COVID-19 pandemic has relegated many of us to our homes, leaving businesses with few opportunities to reach their customers and make sales. Online shopping has become a vital lifeline for thousands of businesses while brick and mortar locations are closed and millions of people shelter in place. In fact, many retailers are experiencing online traffic that is exceeding Cyber Monday activity, typically a high watermark for online shopping.
Unfortunately, bad actors are capitalizing on this moment by targeting e-commerce platforms for attack using tricks like account takeovers, bot-powered scraping attacks, and payment card skimming malware. For example, 80% of login incidences at home goods retailers are attributed to account takeover attempts.
While a litany of COVID-19-related cyber risks has become increasingly apparent, it’s clear that online retailers need to be especially critical of their defensive posture to ensure that they can continue meeting surging demand in an uncertain retail atmosphere in order to retain customer goodwill and capture enough revenue to stay afloat in a challenging time for retail.
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