Cyber threats are a daily phenomenon in e-commerce platforms. Cybercriminals target these online stores because they contain a lot of data and a lot of money is involved. Transactions run 24/7 across these platforms. They store a lot of financial information and sensitive customer data. The need for e-commerce security is more important today than ever. OWASP plays a critical role in enhancing threat protection for online business websites. This guide details the OWASP’s goal in preventing e-commerce cyber threats.
The global e-commerce market is estimated to grow with a CAGR of 12.22% from 2022 to 2030. This will make the market size touch a figure of $ 47.73 trillion by 2030. With around 2.5 million e-commerce platforms, websites and apps, operating globally and such huge money involved, it’s natural for cybercriminals to look for chances to commit financial fraud. Seeing highly growth threats, the best e-commerce setups use OWASP.
What is the goal of OWASP in e-commerce cybersecurity?
The Open Web Application Security Project (OWASP) was formed in 2001. The organization provides free knowledge, resources, and tools that boost software security. It supports developers in developing secure software with more visible security infrastructure.
In terms of knowledge and resources, OpenAI’s ChatGPT is outstanding. It can help developers and cybersecurity teams to get ideas instantly. Simple prompts can help them keep track of the latest developments, problems, possible solutions, drafting guidelines, etc. There are some common issues though that you should know about when using this AI tool. You might see your account blocked so it’s important to know how to get ChatGPT unlocked. It’s a simple process which you can learn about from this link. It has every detail on possible reasons your account is locked and ways to get it reinstated to use it seamlessly.
In e-commerce cybersecurity, the organization significantly supports online businesses. It helps them create a website in a secure environment. OWASP provides useful resources, tools, and advice to keep e-commerce websites secure. Online stores face a lot of security issues. These stores deal with fraud, data theft, and security breaches. OWASP has listed the top security issues in e-commerce. It provides various tools like OWASP ZAP to help deal with such security issues. This strategy helps online businesses manage website security better. It enhances the overall website safety and increases customer trust.
The strategies OWASP uses to help fight cyber threats in e-commerce
OWASP helps fight various security issues in e-commerce through security resources. So far, the organization has developed five main important e-commerce resources. They contribute significantly to the online safety of these platforms.
OWASP Dependency Check
Third-party apps, plugins, themes, and platforms are important to online stores. These tools sometimes may contain security gaps. The goal of OWASP Dependency Check is to identify and manage these gaps. This tool scans all networks and third-party tools added to the platform.
It ensures the store stays safe from vulnerabilities. With access to a wide vulnerabilities database from the National Vulnerability Database (NVD) and the Common Vulnerabilities and Exposures (CVE) dictionary, you can strategize your cybersecurity plan.
OWASP Top Ten
The OWASP Top Ten is a security resource containing the main e-commerce security risks. This list is important for online businesses. It helps them understand, identify, and manage these risks. Managing these risks minimizes the possibility of cyberattacks.
From XXE to XSS and broken authentication to insecure deserialization, there are a total of 10 threats that the OWASP lists. Working as per this list can provide you greater security against e-commerce cyber threats and provide you with a pathway to strategize your cybersecurity policy for the future.
OWASP Application Security Verification Standard (ASVS)
OWASP ASVS is a detailed guideline for developing and testing web-based apps. This tool provides standardized details that every online store must meet when developing apps. The rules ensure every app developed is secure before launching it on an e-store. This prevents opportunities for hackers to take advantage of platform vulnerabilities.
OWASP Zed Attack Proxy (ZAP)
OWASP ZAP is a tool for testing web-based apps. This tool is open-source and free, designed for use by developers. It lets them identify vulnerable spots in web apps. The tool is not only used during app development. It is also used throughout the maintenance and use period. The ZAP tool continually monitors web apps to ensure they are secure.
OWASP Cheat Sheets
OWASP Cheat Sheets is a set of best practices for handling web apps. The sheet provides various resources for ensuring online store apps are secure. OWASP cheat sheets include the Top 10, Cross-Site Request Forgery (CSRF) Prevention, Mobile Security Testing, and some others.
These handy guides serve as the perfect reference guides for developers and testers to make sure that they are following the cybersecurity best practices in development. Topics in the sheets include access control permissions. It includes coding best practices and session management protocols. The cheat sheet aims to ensure users configure systems and apps properly.
How to overcome security issues in e-commerce
E-commerce platforms can overcome security challenges in their daily tasks. There are billions of transactions happening every day in online commerce – customers buying and returning, sellers receiving money and refunding, delivery charges, etc. With such a large volume of transactions and 26 million+ operation websites in e-commerce, it’s a fertile field for scammers and hackers to commit money frauds or steal financial data.
Ecom platforms should be adopting the OWASP resources in their daily business activities to safeguard the interests of business and customers’ money and data. These tips can help online stores stay secure.
Manage vulnerabilities
Use the various OWASP tools to manage vulnerabilities. Ensure there are no security gaps in apps or systems. With tools like Burp Suite and Zed Attack Proxy, you can scan the vulnerabilities. Then with tools like CSRFGuard and WebGoat, you can work on protecting the e-commerce web apps from various threats.
Encrypt data
Encrypted data is hard to steal since it is not legible. Apply the OWASP encryption guidelines to achieve this goal. There are big advancements in this field. There are now even cryptographic algorithms that can ward off quantum attacks. From choosing the right keys to using strong RNGs and KDFs, OWASP lists down every encryption method in detail that e-commerce platform owners can make use of.
Test apps and systems regularly
Do automated security tests to identify and resolve security problems. The OWASP ZAP can help with this goal. Testing is necessary for many reasons. For gaining customer confidence and detecting bugs or threats at early stages for your business security, testing has to be ongoing. It should start at the development stage but should continue even when your e-commerce business is running smoothly.
Develop controlled access
It might come as a surprise to you that even in today’s highly sensitive online environment, millions of people use weak passwords like 123456 or ABC123. That’s mainly because of a lack of awareness and lack of initiatives from e-commerce platforms to allow weak login methods.
The e-commerce platforms should set up access control by developing multi-factor authentication (MFA) and strong passwords. Train the teams and spread awareness among customers to use these security methods.
Train developers on security problems
Regularly train developers on code security and development best practices. Use the OWASP Top 10 threats and development resources. Since the cybersecurity field keeps evolving at a rapid pace, it is important for the team and organizations to stay on track with all the latest news and upcoming trends.
This prepares them for the present and the future and helps them develop strong e-commerce safety plans based on the experiences of the past. For training, you can hire a specialist team from outside or have in-house trainers who specialize in OWASP field.
Have a response plan against attacks
Security against e-commerce cyber threats is not a one-off step. It’s an ongoing process requiring continuous upgradation. Implement continuous monitoring and alerts. Have in place a swift response plan once an attack happens and build systems that it does happen again.
In spite of your best efforts, there might be times when attackers break into your systems. They use complex methods and now AI-enhanced tools to commit cyber fraud. Prepare your response plan keeping in mind that you have to stay one step ahead of the cybercriminals and not at par with them. OWASP with its top ten helps you stay ahead in the race.
What Is EcomBalance?
EcomBalance is a monthly bookkeeping service specialized for eCommerce companies selling on Amazon, Shopify, Ebay, Etsy, WooCommerce, & other eCommerce channels.
We take monthly bookkeeping off your plate and deliver you your financial statements by the 15th or 20th of each month.
You’ll have your Profit and Loss Statement, Balance Sheet, and Cash Flow Statement ready for analysis each month so you and your business partners can make better business decisions.
Interested in learning more? Schedule a call with our CEO, Nathan Hirsch.
And here’s some free resources:
- Monthly Finance Meeting Agenda
- 9 Steps to Master Your Ecommerce Bookkeeping Checklist
- The Ultimate Guide on Finding an Ecommerce Virtual Bookkeeping Service
- What Is a Profit and Loss Statement?
- How to Read & Interpret a Cash Flow Statement
- How to Read a Balance Sheet & Truly Understand It
Conclusion
OWASP plays an important role in uplifting online safety for online stores. The non-profit foundation provides various useful tools that help e-commerce businesses stay safe. Cyber threats in the online world change quickly. These platforms should stay alert and understand the types of threats they face. They should have monitoring, alert, and response systems in place. OWASP functions with a mindset that online security has to be an inclusive and open-for-all effort instead of some groups or companies working in isolation. As per OWASP, that is not the ideal way to tackle the ever-increasing e-commerce cyber threats.
