Blog

Payment Forms Cause Large Amount Of Online Data Breaches

Aug 30, 2019 | Blog

When surveying the state of your company’s security, it’s important to understand what your biggest risks are.

According to the 2019 Application Report published by F5 Labs, the answer is simple.

Fully 71 percent of all web-related data breaches in 2018 specifically targeted customers’ financial information.

The single biggest culprit?  Formjacking.  According to F5’s Senior Threat Evangelist, Davidd Warburton, formjacking attacks in the hacking community have exploded in popularity over the last two years.

A big part of the problem arises from the fact that most businesses have outsourced their shopping cart and credit card payment systems to third party vendors.  Developers make use of imported code libraries, and in some cases, access third party scripts hosted on the web.

This has the advantage of saving companies money, but it simultaneously puts them in an awkward, vulnerable position. The majority of the code used to handle and process sensitive customer information exists outside the purview of IT security.  Companies simply have no way of controlling the code or verifying its safety.

Worse, hackers know that since most companies use the same small group of payment processing options, all they have to do is compromise a single component of one of those systems and they have access to a vast pool of information that spans multiple companies.

This is exactly how and why Magecart attacks have become so devastatingly effective, and it explains their meteoric rise in popularity.

Warburton describes the challenges businesses face as follows:

“Adequately detecting and mitigating injection flaws now depends on adapting assessments and controls – not just fixing code.  The more code we hand over to third parties, the less visibility and less control we have over it.”

Unfortunately, there’s no simple fix for that.  Companies are driven by necessity to seek the lowest cost solution.  It would be ruinously expensive for each company to create, manage and maintain their own custom payment processing solutions.

FBI Program Tasked with Infrastructure Security Compromised

FBI Program Tasked with Infrastructure Security Compromised

The FBI program tasked with ensuring critical infrastructure security has been compromised by hackers, who now offer access to the program's data on the dark web. The breach was initially disclosed by Brian Krebs of Krebs on Security, who claims that the data was for...

Streamline Your Business with the Latest Smart Home Technology

Streamline Your Business with the Latest Smart Home Technology

Are you a business owner looking to get the most out of your Google smart home devices? If so, you're in luck! Google has enabled its Nest products and Android OS with the initial rollout of the Matter smart home standard. This means that businesses now have the...

Data Breach at Sequoia One Exposes Sensitive Customer Information

Data Breach at Sequoia One Exposes Sensitive Customer Information

What do you do when your most personal information has been compromised? This is likely the question that customers of Sequoia One asked themselves earlier this month as they were informed that the company had been hacked. Sequoia One specializes in the management of...

Cisco Reports Critical IP Phone Vulnerability

Cisco Reports Critical IP Phone Vulnerability

As a business owner, it's important to stay informed about potential vulnerabilities that could impact your organization. Recently, Cisco reported a critical vulnerability, tracked as CVE-2022-20968, affecting its IP Phone 7800 and 8800 Series. This new vulnerability...

Google Chrome Releases Two New Features

Google Chrome Releases Two New Features

Google Chrome is one of the more commonly used web browsers. Over the years, though, Chrome has gained a reputation for utilizing a large portion of a computer's memory. This can be a problem if you're running other resource-intensive tasks and don't want to slow...

Get a Free Consultation

 

Fill out the form below to receive a free consultation and learn how we can make your technology worry-free!

 

Contact Information

  • 39301 Badger Street, Suite 500
    Palm Desert, CA 9221
  • (760) 333-8523
  • info@icn.tech