Thousands of online businesses could be opening themselves up to risks of cyberattack due to running an insecure version of Magento right now.

Magento 1 reached its End of Life (EOL) at the end of June this year and eCommerce experts across the board are warning of the risks opening up for online merchants that are now no longer receiving security patches to protect their sales systems.

But beyond just the security risks to the site, online stores still operating on Magento 1 could be at further risk by not being PCI compliant.

“In the run-up to EOL for Magento 1, many sought clarity from payment processors such as Visa, on how they would support merchants past the end date, and ultimately when they would stop taking payments from those on Magento 1,” stated James Allen-Lewis, Development Director at Sonassi. He added, “Visa was very bullish in their initial statement, stating customers on Magento 1 needed to migrate across to Magento 2 immediately, in order to remain PCI compliant.”

PCI or Payment Card Industry Data Security Standard is compliance that all online traders need to be in line with. Not complying with your requirement commitment could mean you are banned from accepting cards and/or increased fees to process cards. Moreover, fines that can range from £3,000 to £60,000 depending on your bank’s merchant account agreement may also be levied.

An announcement with the decision to shelve Magento 1 was made in September 2018, and Adobe gave websites nearly two years’ notice to migrate from the 12-year-old release line before it reached end-of-life status on June 30, 2020.

However, as at the end of June, there were still more than 200,000 websites operating on Magento 1.

Understandably, the arrival of the pandemic has meant many merchants are yet to migrate and any major platform migration needs to be considered but time is running out even faster than before.

Allen-Lewis highlighted the risk rather succulently “Losing PCI compliance or customers’ personal information is a disaster for online retailers that manage online card payments as it is highly likely they will become liable for the damages caused to their customers, as well as having to pay the costs of a PFI investigation.”

 

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