New Trends in securing
E-Commerce
•By-
• Harsh Gupta - WRO0822052
•Shivam Pandey- WRO0822517
•Zubair Fruitwala- WRO0822500
•Vikash Rajbhar-WRO0705327
•Avanishubha Chomal- WRO0810917
CONTENTS
• Introduction
• Growing E commerce and Security Challenges
• Types of security Threats in E commerce
• The shift to multi layered security
• Advancement in encryption technology
• Block chain technology for security
• Secure mobile e commerce
• Fraud prevention tools and techniques
• Conclusion
INTRODUCTION
The e-commerce sector has seen
exponential growth in recent years,
but as more transactions are made
online, the risks to both businesses
and consumers increase.
Cyberattacks are becoming more
sophisticated, and the financial
impact of breaches is substantial.
Securing e-commerce platforms is
no longer just a best practice; it's
a necessity to maintain customer
trust and safeguard sensitive data.
Growing E-Commerce and Security
Challenges
•Global E-Commerce Growth:
• According to estimates, global e-commerce sales are
expected to surpass $6 trillion by 2023.
• As more consumers shop online, businesses face the dual
challenge of delivering seamless user experiences while
ensuring robust security measures.
•Increasing Cybersecurity Risks:
• With more financial transactions and sensitive data being
exchanged online, hackers are constantly developing new
ways to breach security systems.
• Security challenges include hacking, phishing, fraud, and
identity theft, leading to increased pressure on businesses to
protect their platforms.
Types of Security Threats in
E-Commerce
•Data Breaches:
• Attackers gain unauthorized access to a company's
database to steal sensitive information, such as credit card
details, personal identification, and login credentials.
• High-profile data breaches like those at Target and Equifax
have highlighted the severe consequences of poor security
practices.
•Phishing Attacks:
• Fraudulent emails and websites mimic legitimate e-
commerce stores to steal login credentials, credit card
details, and personal data.
• Phishing attacks are often the entry point for more
damaging cybercrimes, like account takeovers.
•Malware:
• Malicious software designed to infiltrate e-
commerce websites and steal customer
information or disrupt business operations.
• It can take various forms, including keyloggers
that record keystrokes and spyware that
monitors user behavior.
•Ransomware:
• A type of malware that locks a system or data
until a ransom is paid to the attacker.
• This form of cyberattack has surged in recent
years, affecting everything from small businesses
to large corporations.
The Shift to Multi-Layered
Security
What is Multi-Layered Security?:
This approach combines several security measures to
protect e-commerce platforms from cyber threats.
Security layers include:
•Physical Security .
•Network Security
•Application Security .
•End-User Protection
Benefits of Multi-Layered Security:
•Even if one security measure is bypassed, attackers are
still faced with multiple barriers, increasing the chances
of thwarting attacks.
•This approach ensures that businesses are prepared to
handle a variety of attack vectors.
Advancements in
Encryption Technologies
End-to-End Encryption (E2EE):
•E2EE ensures that data is encrypted from the moment it
leaves the sender (such as when a customer submits
payment details) and can only be decrypted by the
recipient (the e-commerce platform).
•It prevents third parties, including hackers, from accessing
sensitive customer information during transmission.
•Transport Layer Security (TLS):
•TLS replaces the older SSL (Secure Sockets Layer) protocol
and encrypts the connection between a user’s browser and
the e-commerce platform.
•It’s essential for protecting sensitive information, like
credit card numbers and login credentials, during online
transactions.
Block chain technology for
security
How blockchain works?
Blockchain is a distributed ledger technology that
records transactions in a secure, transparent, and
immutable way. Once information is entered into the
blockchain, it is practically impossible to alter or delete.
Blockchain Benefits for E-Commerce:
•Transparency
•Decentralization .
•Immutable Record:
Secure Mobile E-commerce
•Security Challenges for Mobile E-Commerce:
•As mobile commerce grows, so do the security risks. Mobile apps
store sensitive data like payment details, making them prime
targets for hackers.
•Devices can be easily lost or stolen, putting data at risk, and
malware targeting mobile devices is on the rise.
Best Practices for Securing Mobile E-Commerce:
•App-based Multi-Factor Authentication (MFA): Integrating
biometric login methods (fingerprint/face recognition) or one-time
passcodes (OTPs) can significantly enhance mobile security.
•Encryption: Ensure sensitive data like payment details are
encrypted both at rest (on the device) and in transit (during
communication with servers).
Cloud Security for E-Commerce
Platforms
Cloud Security Features
•Scalability
•Redundancy:
•Continuous Monitoring
•Benefits:
•The cloud provides businesses with secure and cost-effective
infrastructure that can be easily maintained and updated without
requiring significant in-house resources.
Fraud Prevention Tools And Techniques
Advanced Fraud Prevention Solutions:
•3D Secure (3DS): A security protocol that adds an extra layer of
authentication during online payments. The user may be asked to
verify their identity via an OTP sent to their phone or email.
•Chargeback Protection: Tools and services that help merchants
prevent and manage chargebacks (when customers dispute
charges), a common form of online fraud.
•Geolocation and Device Fingerprinting: Analyzing the user’s
location and device to detect anomalies, such as a customer
suddenly trying to log in from a different country.
AI & Machine Learning for
Fraud Detection
• Machine learning algorithms can analyze massive
amounts of transaction data in real-time to detect
abnormal patterns indicative of fraud, such as
multiple failed payment attempts or unusual
spending behaviors.
•Benefits:
• Real-Time Detection: AI and machine learning
allow for immediate responses to fraudulent
activity, potentially blocking it before it impacts
the business.
• Adaptive Learning: As AI systems process more
data, they can refine their detection techniques,
improving accuracy over time.
•Examples:
• Visa's AI-powered tools identify potentially
fraudulent transactions in real time by analyzing
hundreds of variables like location, device, and
Future Trends in E-Commerce
Security
Emerging Trends in E-Commerce Security:
Quantum Computing:
While still in its early stages, quantum computing promises to
revolutionize encryption. It may eventually be able to crack
traditional encryption methods, requiring new quantum-resistant
algorithms to secure e-commerce data.
AI-Driven Threat Detection:
Artificial Intelligence is becoming more integral to e-commerce
security. AI algorithms can sift through massive amounts of data
and detect patterns indicative of fraud or cyber threats.
Behavioral Analytics and AI:
This combination allows platforms to continuously monitor user
actions in real-time, creating detailed profiles for each customer,
and detecting deviations from their normal behavior to flag
potential threats.
CONCLUSION
As new threats continue to emerge, staying proactive, adopting
future-proof technologies, and continuously improving security
practices will be key to maintaining trust and success in e-
commerce.
•Call to Action:
• Ensure that your e-commerce platform is up to date with the
latest security measures.
• Prioritize securing your website, protecting customer data,
and staying informed about emerging security trends.
• Empower your team and educate your customers about safe
online practices to create a safer digital shopping
environment.
ANY QUERIES
Thank you
