E-COMMERCE DDOS ATTACKS AND THE REAL COST OF DOWNTIME
More than half of consumers prefer to shop online instead of in-store thanks to the convenience and ease of e-commerce.
This shift in spending habits has created a major opportunity for retailers to focus their business models on web sales – and with that has come a rise in cyber crime. With market research firm eMarketer predicting that e-commerce sales will grow to $3.5 trillion in the next five years, it’s become a ripe opportunity for cybercriminals.
In addition to credit card and cyber security breaches, online retailers have fallen victim to Distributed Denial of Service (DDoS) attacks capable of impacting the performance of – and even shutting down – their e-commerce sites. Though oftentimes not directed at stealing money, downtime caused by the attacks has a direct correlation to missed sales. A down site can also cause customers to lose confidence in the reliability of a website and take their business elsewhere, resulting in missed sales opportunities.
The loss of trust and confidence of customers is the most damaging consequence of a DDoS attack reports Corero Network Security’s 2016 DDoS Impact Survey. IT decision makers (ITDMs), network operators and security experts weighed in on the survey, which also found that losing trust is the most damaging consequence for 50% of those surveyed, followed by lost revenue, for 34%.
What is a DDoS attack?
A DDoS attack is an attempt to make an online service unavailable by overwhelming it with traffic from multiple sources. These attacks target a wide variety of important resources, from banks to e-commerce spaces, and present a major challenge to accessing important information.
DDoS attacks, which are not large-scale by nature, can be devastating to business. They can impact network performance, ultimately ruining the end user experience. What’s even more troubling is that such attacks are usually used as a diversion for a more malicious attack.
Reducing the risk of DDoS attacks
BSO provides a full portfolio of cybercrime protection and intelligence services that reduce the risk posed by DDoS attacks and other online threats. We fight back against the cybercriminals that target your customers, shutting down attacks and proactively disabling the ecosystem of tools and systems they depend on. Our unique approach deters cybercriminals, preventing future attacks against you and your customers.
We help e-commerce businesses protect customer confidence in the integrity of their online and mobile business channels. In addition, we provide the real-time intelligence on DDoS threats needed to avoid performance issues and site disruption. By partnering with BSO, online retailers and e-commerce businesses minimize losses due to online fraud and avoid disruptions to the customer experience.
Today’s retailers have to take extra precautions and remain alert to ensure a safe digital environment for their website and customers. A DDoS attack is not simply a nuisance; it can have serious business consequence from lost revenue to loss of customer trust.