Every day, millions of shoppers take advantage of the convenience of online shopping. If you have a digital marketplace where consumers turn to make purchases regularly, you should know that your e-commerce websites are attracting more than just potential customers. Cybercriminals and attackers are always on the lookout for vulnerabilities.
The surge in e-commerce activity has also attracted cybercriminals looking to exploit vulnerabilities in online stores.
According to Statista, global e-commerce sales are projected to reach $6.4 trillion by 2024. This massive growth means that there are more opportunities for cybercriminals to target e-commerce websites.
To combat these threats and ensure that your e-commerce business security is uncompromised, you must prioritise the security of your websites. A reliable solution that facilitates that is configuring a robust firewall that acts as your e-commerce website’s first line of defence against malicious actors. Before we look at the various ways in which firewalls provide security to your online stores, let’s first understand the magnitude of the situation.
How significant is the threat when it comes to e-commerce security?
The threats to e-commerce security are constantly evolving, much like your business’s offerings. These threats, however, are significant due to the potential financial losses, damage to reputation, and regulatory consequences, which can have a debilitating impact on your business’s functioning and reputation in the market. Here are some statistics that might help you understand the magnitude of the threat:
- Data Breaches – Recent years have seen a surge in data breaches affecting major e-commerce players. According to the Identity Theft Resource Center, there were 1,862 data breaches reported in 2020 alone, exposing over 300 million records. These breaches can result in financial losses and destroy consumer trust.
- Payment Card Fraud – Since e-commerce stores are integrated with payment platforms and collect sensitive customer information, payment card fraud is a constant threat to e-commerce businesses. During the pandemic (when online markets were being predominantly used for purchases), the Federal Trade Commission received over 2.2 million fraud reports, with a significant portion related to online shopping.
- Phishing Attacks – As advanced as online security measures are, phishing attacks have become more sophisticated, targeting both consumers and e-commerce businesses. According to the Anti-Phishing Working Group, phishing incidents increased by 220% in 2022.
These statistics not only highlight the magnitude of the security threats but also shed light on the urgency of implementing protective measures – which brings us back to firewalls.
Leveraging Firewall Rentals To Ensure Adequate security on e-commerce websites
Firewalls are a critical component of any cybersecurity strategy, and their importance in e-commerce cannot be overstated. A firewall acts as a barrier between your e-commerce website and potential threats, controlling incoming and outgoing network traffic. If you notice, we mentioned ‘firewall rentals’ and not ‘firewalls’ in the headline. The reason behind that is that in our extensive experience as an IT rental company, we’ve catered to quite a few e-commerce businesses and have played a part in building a robust security infrastructure for them by providing quality firewalls on rent. In the majority of cases, our clients have expressed their satisfaction with choosing rental firewalls, as they provide easy customisation, upgrades, and maintenance.
Let’s take a closer look at how firewall rentals can address the unique security challenges in e-commerce:
Real-Time Threat Detection & Mitigation
High-quality firewall rentals come with advanced threat-detection capabilities. They can identify and block suspicious traffic patterns in real-time, preventing data breaches and unauthorised access. Additionally, since these rental firewalls are customisable, they can be customised with DDoS (Distributed Denial of Service) mitigation capabilities and can protect your site from these attacks, ensuring uninterrupted service for customers.
Content Filtering & Application Security
Firewalls can be configured to filter out malicious content, such as malware and phishing attempts. This helps in safeguarding customer data and trust. Furthermore, e-commerce sites rely heavily on various applications and APIs. Firewalls can provide application layer security, safeguarding these critical components of your website from vulnerabilities and attacks.
Compliance Requirements
This is an aspect that several businesses fail to acknowledge. Many e-commerce businesses must adhere to industry-specific regulations like PCI DSS. Firewall rentals often include features and configurations that help meet these compliance requirements, ensuring that your business is safe from penalisation in the future.
Scalability & Cost-Efficiency
The e-commerce landscape is dynamic. Firewall rentals allow you to scale your business’s security infrastructure as it grows, ensuring continuous protection against evolving threats. As an added benefit, one of the significant advantages of firewall rentals is their cost-effectiveness. You can avoid the high upfront costs associated with purchasing and maintaining dedicated hardware firewalls. Instead, you can pay for firewall services on a contractual basis, adapting to your changing security needs.
Conclusion
In an era where data breaches can have catastrophic consequences, proactive security measures are not just an option; they are a necessity.
As recent statistics show the evolving cyber threats and vulnerabilities in the e-commerce landscape, data and cybersecurity should be a prime consideration for your businesses. Firewall rentals offer a practical and cost-effective solution for e-commerce businesses to enhance their security posture. Without the hassle of maintaining, managing, upgrading, and configuring firewalls, you can focus on what truly aids in growing your business. Investing in rental firewalls from reputable IT rental providers like Rank Computers can facilitate that, and be a game-changer in securing customer data, maintaining trust, and ensuring the long-term success of your e-commerce venture.
