Cyber threats for eCommerce? Yes! Security breaches, phishing, malware, and ransomware are just a few. The global annual cost of cybercrime is predicted to reach $8 trillion annually in 2023.
As early as April 2020, 52% of legal and compliance leaders worried about third-party cybersecurity risk following the pandemic. After banks, eCommerce stores are the second online industry most targeted by hackers, as online businesses hold sensitive information about their clients, such as credit and debit card details.
So let’s go over some simple tips that can be super useful to help you protect your business from cybercrime, shall we?
#1 Incorporating PCI DSS
If you’re running an eCommerce store, you’ll be collecting plenty of credit card information from your shoppers. This information cannot end up in the wrong hands. You need to ensure you have a system that complies with data security standards. So any data collected is stored securely to avoid credit card fraud or theft.
#2 TLS, SSL, and HTTPS authentication
Secure socket layers are a security protocol installed on websites to ensure that links between networked computers are authenticated and encrypted. As an eCommerce business owner, you start with the SSL link, then proceed to get the HTTPS and TLS security authentication measures so that your website is entirely secure and safe for your customers to shop and navigate on.
If you take the proper measures against cyber threats, you are assuring your customers their peace of mind when purchasing your products, and you’re complying with industry security standards. Most importantly, you’re earning and keeping your customer’s trust.
#3 Find the Right Hosting and Implement Secure Passwords
A shared web host is more vulnerable to cyber threats. You’ll be safer with a dedicated web host. It’s also important to know that a significantly higher proportion of cyber attacks result from weak or lost passwords. Going the extra mile to make sure you, your employees, and your customers adopt good practices for solid passwords will protect your business from unwarranted attacks and your customers’ sensitive data.
#4 Update Your Site & Back Up Your Data Regularly
Attacks are always trying out their capabilities by looking to exploit your site’s vulnerability. Implement relevant updates and patch upgrades in your software, besides fixing bugs, so that you can always stay secure. Turn on automatic updates to reduce the possibility of a delay between updates or human fault.
Your site can also potentially collapse without prior warning, taking all your data with it. Should you lose access to it, you’ll require a backup to protect your biz, and thus you should never forget to back up all your information regularly.
Pro tip: Knowing the potential eCommerce Cyber Threats
There are different cyber threats, and knowing how they work is the first step towards defending your website from them.
Phishing:
It’s very easy to trick someone into sharing passwords, account information, or personal data. Educate your users and customers on how to spot these tactics and avoid this type of cyber threat.
DDoS attacks
A very common attack launched by malicious hackers who want to disrupt your business. Manipulating thousands of computers that have been compromised and lay under the attacker’s control, they can flood your server with thousands of requests at the same time, causing it to crash and turn away legitimate customers. The best defense? Robust website architecture, migrating to the cloud and having a wall enabled.
Cross-Site Scripting (XSS)
Your customers are the intended target of this cyber attack. This hacking technique steals the browser’s data from the victim by tricking him into clicking on a page with malicious JavaScript embedded.
SQL Injections
This attack aims to hack the database of a site by taking advantage of back-end coding. Tip? Have a robust back-end code!
Malware and ransomware
Malware-infected sites have low performance and can infect users’ computers when they connect to them.
E-Skimming
Hackers obtain credit card information from your site with this practice through phishing attempts, XSS, brute force attacks, or attempts to compromise your user information via a third party.
Man In The Middle Attacks
In this type of attack, the hackers position themselves between your customers’ data and your servers and collect endless amounts of information. There is no way to guarantee your safety. While the best prevention method is to adopt SSL / TLS certificates that protect HTTP traffic, some attackers can work through these certificates. Using HSTS and VPNs can increase your defense against this type of attack.
Now that you have this information, you should double-check that you’re properly protected.
Schedule a call with our NetSuite eCommerce experts today to learn how to keep your eCommerce safe from all cyber threats!
