Black Friday is approaching on November 29, and it is a common time for hackers to thrive in their attacks. With consumers wanting to grab the best deals, small businesses become a prime target for exploitation of their vulnerabilities. During this period, cybercriminals ramp up their efforts, employing tactics such as phishing, impersonating websites, and malware attacks. Therefore, small businesses need to recognise these threats and take the necessary steps to protect their business operations, data, and customers' information.

Website impersonation

This type of attack can be very damaging for smaller businesses, as impersonation websites often appear almost identical to legitimate ones. It can be extremely difficult for customers to recognise the difference, making them vulnerable to fraud. Therefore, it is crucial that customers are directed through your official links.

Hacked websites 

E-commerce plugins enable the integration of an online store into a website. However, these plugins are often not updated regularly, making them vulnerable to malicious code execution in the background. This can lead to potential risks such as stolen customer data, exposure to sensitive information, and manipulation of the website.

Fraudulent purchases

Cybercriminals often exploit stolen credit and debit card information. They make purchases that can be disputed with their banks, resulting in the retailer incurring chargeback fees and potential product losses. Malicious techniques can be used to obtain gift cards or vouchers, resulting in lost revenue. They may trick customers into providing sensitive information by promising offers that you provide.

Supply chain fraud 

During busy periods, suppliers may struggle to meet high demands, making it an ideal opportunity for cyber criminals to create convincing invoices for phishing attacks against retailers. This threat can arise at any stage of the transaction process, so it is essential to always verify the legitimacy of any invoice before proceeding.

Given the involvement of third parties in these attacks, it is essential to prioritise security when transferring data and establishing connections. A data breach can jeopardise your business, potentially harming your operations and reputation.

AI attacks 

As Artificial Intelligence becomes more prevalent, cybercriminals are enhancing their attack strategies, making convincing emails, websites, phone calls, and text messages more straightforward and faster. All of these can appear very legitimate to both businesses and customers.

Malware

Malware is becoming more sophisticated and is increasingly accessible to criminals looking to use or learn how to create it. These criminals aim to deceive victims into clicking on links, opening attachments, or using physical media to install malware on their systems. This can potentially lead to website takeovers of online stores or ransomware attacks, which can cause significant financial damage to businesses.

Use a secure e-commerce platform

When it comes to choosing a platform to run your online store, make sure it is reputable and provides security out of the box, such as:

•  SSL certifications and encryption for data

•  Ensures compliance with regulations like GDPR and PCI DSS. 

•  DDoS protection, security monitoring systems and fraud detection. 

  
  

Virtual private networks

VPNs improve privacy and security, particularly when accessing sensitive information or conducting business activities over unsecured networks. They provide an extra layer of protection by masking the user's location and encrypting data. However, it is essential to research which VPN is best suited for your needs and ensure a strict no-logs policy to protect your business activities.

Ensure customers use strong secure passwords

Implement a strong password policy to ensure customer passwords are not easily guessed. The National Cyber Security Centre (NCSC) recommends using three random words. By encouraging this practice, we can help individuals maintain good cyber hygiene and enhance their security.

Consider enabling MFA for customer log-ins

When creating an account, advise customers to enable multi-factor authentication. This adds an extra layer of security, ensuring that even if a criminal has your password, they cannot log in without your authentication code or logged-in session. 

Ensure all employees have cyber security training regularly

Training your staff to recognise red flags can greatly reduce the chances of a successful cyber attack. Regular training on phishing campaigns and hands-on labs educates everyone on the latest malicious techniques.

Keep all software & applications updated

Having an effective asset management policy simplifies the process of managing software and application updates throughout your network. This ensures that all devices and applications are patched against known vulnerabilities, which attackers could exploit. By addressing these vulnerabilities, you reduce the attack surface of your network, making it harder for threats to spread.

Cyber-attacks or fraud can have serious consequences for small businesses. A successful breach can damage customer trust, lead to regulatory issues, reduce income, and require costly recovery efforts. By implementing strong cybersecurity measures, small retailers can protect their businesses and ensure a safer shopping experience for customers during Black Friday and beyond.

If you need training for you or your employees to ensure that they understand how to stay safe against cyber fraudsters, then please look at our very low cost options for small businesses.