Written by Anas Abu Hassan
KUALA LUMPUR, April 7 (Bernama) — Cybersecurity solutions provider Fortinet has said that the e-commerce industry will be affected during the festive season as increased online retail activity creates opportunities for cybercriminals to exploit. He said people are advised to be on guard against possible cyber-attacks.
Dixon Wu, Fortinet's country manager for Malaysia, said online retailers should take a proactive stance on cybersecurity as they are targeted more often than other industries.
“Cybercriminals take advantage of festival crowds as shoppers tend to make purchases in a hurry and may overlook security precautions.
“Failure to address these risks can expose consumers to a variety of risks, 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 amounts of money and personal data involved.
“Failing to address cyber threats and ignoring data protection can expose consumers to risks such as identity theft and financial fraud,” he added.
Lack of data protection, strategies to ensure security
Mr. Wu highlighted that the lack of data protection in the retail sector can lead to identity theft. In identity theft, criminals use stolen personal information to commit fraud and other illegal activities in a consumer's name, potentially causing financial loss, lower credit ratings, and long-term damage. . A complex process of restoring identity.
It also said there was a risk of unauthorized access to personal information, which could be used for malicious purposes such as targeted phishing attacks or selling data on the dark web.
To address this, he said, retail companies need to take a holistic, multi-layered approach to cybersecurity, including technology, processes and people.
Threat intelligence systems should be integrated with broader security architectures to increase visibility and automate actions to eliminate threats and prevent future incidents. “By combining orchestration solutions with artificial intelligence-driven automation, we can automatically handle routine tasks, reducing human error and freeing security teams to focus on more important threats. ” he explained.
Additionally, retailers need to develop comprehensive breach response plans and back up critical data, as well as educate employees and customers about social engineering risks and fraud.
— Bernama
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