Why ecommerce transactions need security
Ecommerce Security: Importance, Issues, and Safeguards
Ecommerce security is essential if you are to make it in this industry. Do you realize that cyber criminals are primarily targeting ecommerce businesses? Online businesses experienced 32.4% of all successful cyber attacks in 2018. Therefore, a reputable company should have solid e-commerce security protocols and measures in place. It will keep the business and customers free from attack.
Also, there are some ecommerce security measures that have been proven to keep hackers at bay. We'll get back to that in a moment, but first let's refresh a little bit on our understanding of ecommerce security.
What is Ecommerce or Ecommerce Security?
E-commerce security are the guidelines that ensure a safe transaction over the Internet. It consists of protocols that protect people who sell and buy goods and services online. You need to gain your customers' trust by establishing the security foundation for ecommerce. These basics include:
1. Data protection
Data protection includes preventing activities that lead to the disclosure of customer data to unauthorized third parties. Except for the online seller that a customer has selected, no one should have access to their personal and account details.
A breach of confidentiality exists when sellers give others access to such information. An online business should have at least a minimum of virus protection, firewall, encryption, and other data protection in place. This will go a long way in protecting customers' credit card and banking information.
Integrity is another important concept in e-commerce security. This means that any information that customers have shared online remains unchanged. The principle is that online business will use customers' information as specified without changing anything. By changing any part of the data, the buyer loses confidence in the security and integrity of the online business.
The principle of authentication in ecommerce security requires that both the seller and the buyer be real. They should be who they say they are. The company should prove that it is real, deals with real items or services, and delivers what it promises. Customers should also provide their proof of identity so that the seller feels secure in online transactions. It is possible to ensure authentication and identification. When you are unable to do this, hiring an expert helps a lot. Standard solutions include client credentials and credit card PINs.
Rejection means rejection. Hence, non-rejection is a legal principle that directs players not to reject their actions in a transaction. The company and the buyer should carry out the part of the transaction that they initiated. E-commerce can feel less secure as it occurs in cyberspace with no live video. The non-rejection adds another layer to e-commerce security. It confirms that the communication between the two players has indeed reached the recipients. Therefore, in that particular transaction, one party cannot refuse a signature, email, or purchase.
Why can't you afford to overlook the security of ecommerce?
While the growth in e-commerce has improved online transactions, it has caught the attention of bad gamblers alike. Cybercrime reports in e-commerce show the industry is among the most at risk when it comes to cybercrime.
Around 32.4% of all attacks occur in the e-commerce world. 50% of small ecommerce store owners complain that the attacks are getting severe. Additionally, the reports show that 29% of access to a website consists of malicious requests.
Such attacks have resulted in significant losses in financial values, market share and reputation. Almost 60% of small e-commerce stores experiencing cybercrime do not survive more than six months.
So it is very important to take watertight security measures and hire a robust team. This ensures that you can run your business without worrying about closures due to cyber criminals.
Common ecommerce security issues
1. Lack of trust in the privacy and security of e-commerce
Organizations performing e-commerce operations are exposed to various security risks, such as:
- Fake websites - Hackers can easily create fake versions of legitimate websites at no cost. As a result, the affected company can seriously damage its reputation and ratings.
- Malicious changes to websites - Some scammers modify the content of a website. Their goal is usually either to redirect traffic to a competing website or to destroy the reputation of the affected company.
- Theft of Customer Data - The e-commerce industry is replete with cases where criminals have stolen customers' personal data such as addresses and credit card details.
- Damage to computer networks - Attackers can damage a company's online shop through worm or virus attacks.
- Denial of service - Some hackers prevent legitimate users from using the online store, which limits its functionality.
- Fraudulent access to sensitive data - Attackers can acquire intellectual property and steal, destroy or modify it to suit their malicious purposes.
2. Malware, Viruses, and Online Scams
These problems cause losses in finances, market share and reputation. In addition, customers can file criminal charges against the company. Hackers can use worms, viruses, Trojans, and other malicious programs to infect computers and computers in many different ways. Worms and viruses invade the systems, multiply and spread. Some hackers may hide Trojan horses in fake software and start infections as soon as users download the software. These fraudulent programs can:
- hijack the systems of computers
- delete all data
- Block data access
- Forward malicious links to clients and other computers on the network.
3. Uncertainty and complexity in online transactions
Online shoppers face uncertainty and complexity in critical transactional activities. Such activities include payment, dispute resolution, and delivery. During these points, they are likely to fall into the hands of scammers.
Companies have improved their transparency, for example by clearly indicating who to contact when a problem arises. With such measures, however, the collection and use of personal data is often not fully disclosed.
Ecommerce website security measures that cover you 24/7
1. Use multi-layer security
It is helpful to use different levels of security to increase your security. A widely used content delivery network (CDN) can block DDoS threats and infectious inbound traffic. They use machine learning to keep malicious traffic at bay.
You can activate an additional layer of security such as multi-factor authentication. Two-factor authentication is a good example. After the user has entered the credentials, they will immediately receive an SMS or email for further action. Implementing this step will block scammers as they need more than just usernames and passwords to access legitimate users' accounts. However, hacking can occur even if there is an MFA in place.
Most of the companies that use MFA are still being successfully hacked .
- Roger Grimes, 2018
2. Get SSL (Secure Server Layer) Certificates
One of the main advantages of SSL certificates is the encryption of sensitive data that is shared over the internet. It ensures that the information only reaches the intended person. This is a very important step because any data sent passes through multiple computers before the destination server receives it.
In the absence of SSL certificate encryption, any electronic device between the sender and the server can access sensitive details. Hackers can use your disclosed passwords, usernames, credit card numbers and other information. Therefore, the SSL certificate helps you by making the data unreadable for unintentional users.
2. Use solid rock firewalls
Use effective ecommerce software and plugins to block untrusted networks and regulate website traffic in and out. They should provide selective permeability and only allow trusted traffic.
You can trust the Astra firewall to prevent spam, XSS, CSRF, malware, SQLi and many other attacks on your website. It ensures that the only traffic accessing your ecommerce store is made up of the actual users. In addition, we have special WAF solutions for WordPress, Magento, Opencart, Prestashop, Drupal, Joomla and bespoke PHP sites.
In short, the protection of the Astra firewall from:
- OWASP Top 10 Threats
- Protection from bad bots.
- Spam protection.
- Protection against more than 100 types of attacks.
3. Anti-malware software
Your electronic devices, computer systems, and web system need a program or software that can detect and block malicious software, also known as malware. This protection software is known as anti-malware software. Effective anti-malware should render all of the hidden malware on your website.
One such scanner is the Astra Malware Scanner. It searches your web system around the clock for malicious software and is available to you. You can also automate your scans with the “Schedule Scan” function. You can schedule the scans daily, weekly, monthly, or fortnightly.
With Astra Scanner you can enjoy:
- unlimited scans
- Notifications of changes in the file
- Scanning through machine learning.
- collective intelligence
It is capable of cleaning up malware such as credit card hack, Japanese spam, pub2srv, pharmaceutical attacks and malicious redirects.
4. Follow the PCI DSS requirements
Make it a routine to maintain PCI DSS (Payment Card Industry Data Security Standard) to protect all credit card information. All companies that process credit card transactions must meet these requirements:
Organizations should employ a variety of e-commerce security measures and protocols to keep security threats at bay at all times. In addition to the basic authentication systems such as username and password, SSL, multi-factor authentication is essential.
Don't stop there though, as hackers have gotten smarter. Always make sure that you have implemented a proactive ecommerce security solution on your website. Providing a robust firewall like the Astra WAF so that only real and trustworthy traffic can access your websites. Also, prevent your website from containing malicious software by using proven anti-malware like Astra Scanner. Implement these ecommerce security measures now.
Is there a security solution we're forgetting? Comment and let us know 🙂
Tags: ecommerce security issues, ecommerce store security
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