How to protect your online store

Security tips to protect your e-commerce business

E-commerce security protects a company's data and systems from cyberattacks and prevents them from being accessed and used by cybercriminals and malicious bots. Keep your online business safe and protect the personal information of consumers and businesses.

1. Choose a secure e-commerce platform.

As the saying goes, get the basics right and the rest will fall into place. The first step to building a secure e-commerce website is using a secure platform. With so many open source and proprietary e-commerce platforms available, choosing the best one for you can be difficult. However, whichever platform you use, make sure it takes extensive security measures and maintains Payment Card Industry (PCI) compliance. Run a PCI scan on your server to verify compliance. [Read related article: Open for Business: 5 Options for Setting Up an Online Store]

Additionally, make sure you are running the latest version of the software. If new patches become available, install them immediately.

2. Implement SSL certificates.

SSL is the de facto standard for securing online transactions. SSL certificates authenticate your identity and encrypt data on your store and in transit. SSL is essential for establishing a secure connection between end-user systems and e-commerce websites.

For tech-savvy buyers, the padlock icon and “https” in the address bar are prerequisites for providing personal and credit card information. Consumers are more likely to do business with a vendor if they believe that the vendor is doing everything possible to make the transaction secure.

3. Consider two-factor authentication.

Theft or compromise of user credentials is a common cause of web security breaches. There are multiple ways to compromise the security of your online store by stealing or guessing valid user credentials. Hence, the need for a proven user authentication mechanism arises. This is the foundation for protecting your online store from hacking attempts.

Many e-commerce sites implement two-factor authentication as an additional layer of security. This is a security process that requires a valid user to provide two means of identification. The first is typically a username and password combination, and the second is typically an automatically generated code sent to the user's authorized mobile phone. Hackers may be able to crack your password, but they cannot steal this code. This code typically expires after a short period of time.

>> Click here for details: How companies are using machine learning to detect spear-phishing attacks

4. Use a VPN.

When handling customer data, especially financial transactions, you must be extremely careful on public networks. Data transferred over public networks is vulnerable to interception by malicious users. A VPN (Virtual Private Network) service is useful in such cases. This provides an encrypted connection to a secure off-site server and prevents third parties from getting between you and the server.

If you're concerned about the cost of traditional VPN services, consider a cheaper SSL-based VPN. OpenVPN is a popular choice because it offers an open source, community-based version that is free to use.

5. Educate your customers and employees.

Users need to be educated about the laws and policies that affect customer data. Educate customers as well as employees about information security practices. Tell your customers how you protect their credit card information and what they should do to keep their financial information safe. Highlight your organization's best practices for data security and tell them not to disclose sensitive data in emails, text messages, or chats.

Employees must also receive training on the actions required to keep customer data safe. Guides you in adhering to mandated security protocols and policies to protect your business from potential legal consequences.

The importance of security in electronic commerce

• Ensure customer data is protected. E-commerce business owners need to ensure that all customer data is handled safely and securely. E-commerce security is a difficult subject, but it's your responsibility to protect your website from hacking and your customers' sensitive data from theft.
• Build trust within your company: Consumers want to work with companies they can trust. When they enter personal information, such as credit card numbers or bank account information, into forms on a site, they expect it to be protected. If your business is compromised and customer information is exposed, consumers will be less likely to do business with you in the future.
• Save costs from potential breaches. If your site is compromised by a hacker, you will have to pay to have the security breach fixed. This may include payments for forensic investigations, data recovery services, and customer credit monitoring.
• Ensure compliance: Businesses must also maintain a certain level of security compliance to meet appropriate legal standards for online businesses. If your company does not comply with these regulations, such as the Payment Card Industry Data Security Standard, which is the standard you must follow when accepting credit card payments, you may be subject to fines and other penalties.

Potential security threats in e-commerce

With the right safeguards in place, businesses and consumers can be protected from online threats. Here are some common threats to be aware of.

Phishing

Hackers use email, text messages, and even phone calls to trick store owners into providing personal information such as passwords, banking information, and social security numbers. They typically pretend to be authoritative organizations that are simply “verifying” or “updating” information they already have.

It's never a good idea to divulge sensitive information of any kind if you haven't initiated the interaction. Instead of responding to emails, texts, or providing information over the phone, contact your organization's customer support line directly.

Malware and ransomware

Avoid clicking on links or downloading unfamiliar software. These are common entry points for malware and other software that infects devices and networks. Once your system is infected, hackers can restrict access to the data on your system and demand money to restore access.

Another step you can take to avoid such crises is to back up your information regularly so that if your system is compromised, you can use the backups to restore your system. [Read related article: What Is Ransomware?]

SQL injection

SQL injection is a sneaky tool used by attackers to manipulate the backend of your system. This is essentially a data breach, meaning users may be able to view personal data or manipulate parts of your system without your knowledge.

To avoid this attack, make sure your systems are up to date and consider implementing a web application firewall to block malicious data.

Cross-site scripting (XSS)

This is when a hacker enters harmful code into a company's web page. This tactic is used to steal directly from consumers, as visitors to websites are exposed to malware, phishing, malicious bots, and other tactics that steal information. Consider using HTTP content security policies to enhance data security.

electronic skimming

When hackers infiltrate your e-commerce store through phishing, XSS, or other attacks, they wait for customers at the checkout page so they can swipe their credit card or personal information. When an attacker performs electronic skimming, they are after all the information on a payment card processing page.

To protect your website's payment pages, keep your software up to date, change all default credentials to strong passwords, implement multi-factor authentication, and segment and isolate your network and functions. Masu.

Sean Peake and Simone Johnson Contributed to this article.