Cybersecurity: The Elephant In The Room Of E-Commerce
If you're running an e-commerce business, you need to put security at the top of your list of priorities.
Online sales are becoming more popular in the U.S., China, and other emerging nations. The trend increases as consumers become more aware of the immense convenience of buying products and services online. However, as e-commerce grows, cyber-attacks steal personal information from shoppers and businesses.
The number of data breaches is rising each year as criminals use more sophisticated methods to access people's private data. In 2013, Target discovered that over 100 million customers had their information stolen through their POS systems.
Cybercriminals don't only target large retailers and banks; they also target smaller businesses because they often lack the essential security measures necessary to protect customer data. Therefore, it is crucial for all companies that have an e-commerce platform to invest in protecting their customers' personal information.
Sensitive information is at risk
The cyber-security of an e-commerce site is a big deal — it's the difference between millions of customers trusting you with their private and sensitive information, and losing business because of a hacking scandal.
We live in a world where more and more people are doing business online, so there's more and more sensitive data flying around the internet than ever before. The most common targets include identity theft and credit card numbers, but they can also include other sensitive personal information like names, addresses, and phone numbers.
When that information gets stolen by a hacker, not only can the affected customer lose their hard-earned money (or worse), but your brand's hard-earned reputation can take a hit as well.
Did you know that 43% of cyber attacks target small businesses?
Here are seven of the most common e-commerce cyber threats:
1. Data breaches: One of the biggest problems for e-commerce companies is data breaches. Make sure your company utilizes encrypted data storage. You should also ensure not to transmit customer credit card data across the internet unless you use a secure protocol like SSL or TLS. Another way to avoid data breaches is to avoid collecting unnecessary customer information in the first place.
2. Phishing scams: Phishing scams are when hackers collect sensitive information by pretending to be someone else. This can happen via email, text message, or even phone calls. The best way to fight phishing scams is to learn how to recognize phishing attempts and never give out sensitive information over the phone or on the internet without confirming their identity first (for example, by asking questions that only they could answer).
3. Malware infections: Malware infections occur when malware is installed on your computer without your knowledge—they're often caused by users clicking on links or downloading files from untrustworthy sites or emails from unknown send
4. Man-in-the-middle attack: This is when hackers intercept messages and data between you and the site you're shopping on before they reach their intended destination. It's called "man-in-the-middle" because the hacker inserts themselves between the two parties communicating.
5. Credit card fraud: Criminals use your credit card information illegally, often by stealing it through one of the methods described above.
6. Ransomware: Ransomware is a type of malware that restricts access to the infected device and demands the user pay a ransom to unlock it. It can be spread via phishing emails or malicious downloads.
7. Denial of Service (DOS) attacks: DOS attacks are launched by hackers who use botnets to flood a site with an overwhelming number of requests, rendering it inaccessible to users.
Telltale signs your e-commerce site has been hacked
I know how crucial it is to protect your customers' data, so I've compiled a list of the most common signs that your e-commerce site has been hacked:
1. Your site was slow, and now it's just not working. When you try to log in, nothing happens.
2. You see weird emails from your customers—emails about things you didn't sell them or emails that sound like copy and pasted gibberish.
3. Your customers are complaining about unauthorized charges on their credit cards.
4. You notice blog posts or product descriptions that look gibberish or seem to be in a different language than what you usually use on your site.
5. You notice unusual activity on your site's back end: Strange user accounts are created, pages are removed or altered, or orders are canceled without your knowledge.
6. Your customers can't pay for things. If people's credit cards aren't being accepted at checkout, something could interfere with the payment system.
Keep your online business secure from cyber threats
If you run an e-commerce site, it's essential to protect your business from cyberattacks that can cripple your operation, compromise the personal information of your customers, and damage your brand.
If someone hacks into your site, they can steal customer data and payment information, putting you in breach of the Electronic Communications Privacy Act (ECPA), which can result in lawsuits or worse.
Here are some ways to keep your e-commerce site safe:
Use strong passwords that combine upper case letters, lower case letters, numbers, and symbols.
Hire a cybersecurity expert to monitor the system and keep tabs on security updates.
Consider password protection software.
Ensure you have a secure hosting provider with strong firewalls and antivirus protection.
Use a web application firewall (WAF).
Encrypt sensitive information.
Monitor for attacks 24/7.
Regularly update your system and install patches consistently.
Don't let cybercrime take down your e-commerce site!
In conclusion
The fact of the matter is this: Cybercrime is a serious problem, and all online businesses are vulnerable. But with the right security measures in place, you can squash potential threats before they get too big. And if you're attacked, you'll minimize the damage to your site and its business. The more proactive you are at protecting your customers and their data, the better off you will be (and the happier your customers will be).