Kuala Lumpur, Nov 11: As the year-end shopping season approaches, including events like 11.11 Singles’ Day, Black Friday, and the holiday period, Palo Alto Networks highlights the critical need for heightened cybersecurity awareness.
This period sees a significant rise in online transactions—from holiday shopping deals to travel bookings and money transfers.
However, it also presents increased opportunities for cybercriminals who target unsuspecting digital shoppers through phishing scams, fraudulent sites, and payment fraud.
From 2021 to April 2024, Malaysians reported RM3.18 billion in losses linked to online scams affecting over 95,800 individuals.
With online activity expected to spike this season, cybersecurity is more essential than ever.
“As Malaysia’s retail and e-commerce sector continues to grow, the need for stronger cybersecurity measures has never been more critical,” said Sarene Lee, Country Manager for Palo Alto Networks Malaysia.
“The best defense always starts with awareness and preparation.
Retailers and businesses must take proactive steps to secure their platforms, while consumers need to stay vigilant to ensure a safe online experience.”
The increase in online shopping, digital payments, and travel planning has transformed consumer behavior in Malaysia, also heightening exposure to cyber threats.
Data shows that 55 per cent of consumers use QR codes, 63 per cent use mobile wallets, and 73 per cent engage in social commerce.
This heightened reliance on digital tools offers new opportunities for cybercriminals, particularly during high-transaction events.
To help consumers stay safe, Palo Alto Networks recommends the following practices:
- Verify Authenticity: Check emails and offers carefully for misspellings, unusual domains, or attachments.
- Enable Two-Factor Authentication (2FA): Add an extra layer of security for online accounts.
- Use Official Channels: Shop only on reputable platforms.
- Avoid Phishing Scams: Be cautious of deals that seem too good to be true.
- Strengthen Passwords: Use unique passwords and consider a password manager.
- Limit Personal Information: Avoid sharing sensitive data like social security numbers.
Businesses also face elevated cyber risks, with Unit 42 from Palo Alto Networks identifying the retail industry as one of Malaysia’s top three sectors impacted by ransomware.
Common threats include social engineering tactics, ransomware attacks, and Distributed Denial of Service (DDoS) attacks, all of which can disrupt the retail experience.
Locally, 28 per cent of consumers report feeling insecure shopping online, while 30 per cent prefer businesses that implement robust security measures.
To mitigate these risks, Palo Alto Networks advises businesses to adopt a Zero Trust approach, which strictly verifies each user and device accessing networks.
This framework, combined with comprehensive threat detection, helps maintain security without disrupting the consumer experience.
“This not only simplifies management and enhances efficiency but also fortifies resilience by applying a zero-trust approach, essential in defending against an expanding attack surface—especially during high-traffic shopping seasons.
Ultimately, cybersecurity is a shared responsibility, and by working together, Malaysians can create a safer and more secure online environment for all,” said Lee.
As the shopping season intensifies, both consumers and businesses are urged to prioritize cybersecurity for a safe and seamless online experience.
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