Effective application security testing plays is pivotal in safeguarding companies’ application code across the globe, consequently mitigating overall business risk. As the pace of the software development life cycle accelerates and new threats continue to emerge, the technologies employed to automate testing and aid in vulnerability remediation undergo constant adaptation for heightened accuracy and efficiency. In e-commerce, where digital transformation is paramount, understanding these current trends is indispensable. It’s vital for crafting strategies that save costs and reduce risk, positioning your company as a leader in digital commerce.
Application security has become a central pillar of software development, and a clear necessity for companies that want to reduce business risk in a digital economy. – HCL Application Security Testing Trends Report
In e-commerce, the storage of customer data is paramount, encompassing sensitive information like credit card details, bank account numbers, and personally identifiable information (PII) such as home addresses, emails, and phone numbers. This data presents a ripe target for fraud and identity theft.
Unlike physical stores, online retail platforms face heightened vulnerability to fraudulent activities, owing to the lower risk of detection for fraudsters. Moreover, the convenience and accessibility inherent in e-commerce operations also render them appealing targets for cyber attackers, who can exploit factors like round-the-clock accessibility and remote access.
Why Application Security in E-commerce?
In the e-commerce sector, data security is a critical concern, underscored by its status as the most targeted sector for cyber attacks, as highlighted in the 2020 Trustwave Global Security Report. The exponential rise in data breaches, exemplified by a staggering 284% increase in exposed data records in 2019, underscores the urgency for merchants to prioritize robust security measures, especially for on-premise or cloud-hosted e-commerce platforms.
Today’s e-commerce applications, often deployed across diverse networks and integrated with cloud services, present an expanded attack surface susceptible to security threats and breaches. As hackers increasingly target applications in their attacks, there’s a growing imperative to fortify security not only at the network level but also within the applications themselves.
Application security assumes paramount importance in safeguarding e-commerce platforms against evolving threats. By conducting rigorous application security testing, vulnerabilities at the application level can be identified and addressed proactively, thwarting potential attacks and safeguarding sensitive customer data. Thus, prioritizing application security is indispensable for e-commerce businesses to mitigate risks, uphold customer trust, and ensure long-term success in an increasingly digitized marketplace.
Also Read: Top 5 Application Security Trends for CIOs in Finance and Banking