Palo Alto Networks warns of holiday cyber risks

With the holiday shopping season underway, Palo Alto Networks is urging both businesses and consumers to heighten cybersecurity measures.

This period—marked by major sales like 11.11 Singles’ Day, Black Friday, and Christmas—is a prime target for cybercriminals seeking to exploit the rise in online transactions through phishing scams, fake websites, and fraudulent payment schemes.

“Malaysia’s retail and e-commerce sector has rapidly expanded, but so have the risks,” said Sarene Lee, Country Manager for Palo Alto Networks Malaysia.

“Proactive cybersecurity practices are essential for both retailers and consumers to ensure a secure online experience.”

In recent years, Malaysia has seen substantial losses from cybercrime, with over RM3.18 billion lost between 2021 and April 2024. The holiday shopping spike is expected to drive more online interactions, underscoring the need for strong cybersecurity habits and awareness.

Key cybersecurity tips for safer online shopping

As digital payments and e-commerce continue to reshape shopping in Malaysia, Palo Alto Networks stresses vigilance, especially with 55% of consumers using QR codes, 63% relying on mobile wallets, and 73% engaging in social commerce.

To minimise risks, Palo Alto Networks recommends the following cybersecurity best practices:

• Verify Authenticity: Always check emails and offers for accuracy before clicking links. Look for small clues like misspellings, unusual domains, or strange attachments.
• Enable Two-Factor Authentication (2FA): Protect accounts with 2FA, especially when making online purchases.
• Use Trusted Platforms Only: Stick to verified and secure shopping sites, avoiding unofficial sources.
• Beware of Phishing Scams: Be wary of offers that seem too good to be true, and don’t trust unsolicited confirmation emails.
• Strengthen Passwords: Use unique, strong passwords for online accounts, and consider using a password manager.
• Limit Personal Information Sharing: Never provide sensitive information like social security numbers or banking details through unsolicited requests.

These simple steps can help consumers navigate the shopping season with added security, protecting them from phishing and malware scams.

Businesses advised to adopt a zero trust approach

Retailers are also at risk during high-traffic periods, with ransomware and Distributed Denial of Service (DDoS) attacks becoming increasingly common.

According to research from Palo Alto Networks’ Unit 42, the retail sector ranks among Malaysia’s top three most affected industries by ransomware.

High-profile cyber incidents can compromise both sales and reputation, underscoring the importance of a proactive cybersecurity approach.

“Implementing a Zero Trust model, where every access request is verified, is crucial for businesses,” said Lee. “

This fortifies cybersecurity without disrupting the customer experience, ensuring smooth operations during high-traffic periods.”

By adopting a Zero Trust approach, businesses can integrate comprehensive threat detection, enhance visibility, and facilitate real-time responses to potential attacks.

This layered security system protects sensitive data and provides an efficient, seamless shopping experience for customers.

Both consumers and businesses play a critical role in creating a safer digital environment, particularly during peak shopping periods.

Surveys show that 28% of Malaysians feel less secure shopping online, while 30% prefer businesses with robust security measures like identity verification.

By implementing strong cybersecurity practices and working collaboratively, Malaysians can enjoy a secure, convenient, and protected online shopping experience during this festive season.

As the holiday shopping rush builds, Palo Alto Networks’ tips serve as a reminder of the shared responsibility for cybersecurity, helping shoppers and retailers alike safeguard their transactions and digital assets.