Ecommerce security is something that no online retailer can ever take for granted, especially in the data-driven age that is getting more vulnerable to cybersecurity threats from hackers. Once hacked, the harm is already done to the reputation and assets of an Ecommerce services provider. Therefore, placing robust security in Ecommerce is not only essential for online retailers but it is unavoidable, in the context of keeping their prestige and trust of consumers intact.
What is Ecommerce Security?
Ecommerce security is all about implementing robust and unbreachable security protocols so that online retailers or Ecommerce platforms don’t have to bear the brunt of getting their systems hacked by cyber attackers. The reason why it matters in today’s increasingly vulnerable data-driven business world is to keep the sensitive business data safe from falling into wrong hands.
When something like this happens, a company goes through public humiliation of being unable to protect its data, let alone facing declining trust of its own customers. That said, when security is breached, the loss it creates thereafter is irreparable for companies for many years down the line. That’s why Ecommerce companies are leaving no stone unturned in reinforcing their security, including teaming up with Ecommerce development companies.
Statistical Review of Why Ecommerce Security Matters
In a surprising revelation, Betanews reports that cybercriminals are capable of penetrating 93% of company network perimeter and can hack its local network resources. It is even more fearful, considering how companies feel vulnerable to cyberattacks, given they are growing more advanced.
Latest Ecommerce Security Threats: Top 8 to Remember
1. Malware And Ransomware
Malware is a malicious software used by hackers to exploit, disrupt, damage, or gain unauthorized access to your Ecommerce website. Ransomware is a type of malware that locks you out of your critical systems until you pay the hacker to neutralize the threat.
Other malware variants: are Trojan Horses, Adware, and Rootkits.
2. Social Engineering
It is a type of confidence trick to coax people into divulging confidential information. For example, phishing techniques are used against reputed Ecommerce brands luring them into a fake business platform to steal their credit card or login details. Apart from cheating consumers, the technique also puts a brand’s reputation or goodwill in harm’s way.
3. Cross-site Scripting (XSS)
Though this type of cyberattack doesn’t impact your whole website but exposes customer data on that page to malware and phishing. How does it work? XSS manipulates a vulnerable website by planting a malicious code into its webpage, thus making the website vulnerable to security threats in e commerce.
4. Brute Force Attacks
This type of cyberattack involves hackers repeatedly using several passwords or passphrases to guess the right password eventually. Hackers use automated scripts to make up your password by jumbling together letters, numbers, and characters until the right password is found. The solution to this attack is ensuring that your Ecommerce website is protected with strong passwords, hard to be guessed or cracked by the hackers.
5. DoS and DDoS Attacks
Denial of Service (DOS) and Distributed Denial of Service (DDoS) make your Ecommerce website unstable by overloading it with requests, thus disrupting its operations. It mostly occurs during peak times, like Black Friday. One of the signs of DOS attacks is degrading network performance. Besides, you also see high volume of email spam or website downtime.
6. Bots
One of the most dangerous cybersecurity threats, bots are programmed to perform tasks automatically, like hacking confidential data, indulging into fraudulent activities or pricing scrapping. Some of the best ways to deal with bots are using reCAPTCHA tools on the website, inspecting API connections, and updating browsers.
7. SQL Injection
This type of cyberattack happens when hackers use your unprotected SQL server database to write and inject their own queries. It finally results in compromising the SQL database as hackers can easily view or alter any data in it.
8. API Attacks
Since an Ecommerce architecture involves extensive use of APIs, it becomes an easy target of cyberattacks. An API attack refers to the malicious usage of API from automated threats, like access violations. There is always a lingering threat for malicious API usage and data breach under such circumstances. Unfortunately, it results in massive data losses and service disruption for an Ecommerce website.
Are you concerned about safeguarding your ecommerce platform from cyber threats?
Why Does Ecommerce Security Matter?
- Data Security: Keeps sensitive and confidential business data safe from unauthorized access.
- Improved Resiliency: Reduces the impact of cyberattacks, enhances recovery with minimal losses.
- Easy Shopping Experience: Keeps your website safe and operational 24×7 for a smooth shopping experience.
- Improved Customer Trust: Makes your brand trustworthy, as customers feel safe shopping on your website.
Effective E-commerce Security Measures
- Use multilayer security controls, making it hard for attackers to break through them to infiltrate your website
- Use Secure sockets layer (SSL) certificates to prevent hackers from using your Ecommerce website for phishing attempt
- Use firewalls to keep your website safe from security threats in e commerce, like malicious SQL injection, XSS, spam, etc.
- Use the latest antivirus and anti-malware software to neutralize threats like trojan horses, code tempering, etc.
- Uses complex, alphanumerically jumbled passwords to prevent unauthorized access to your website
- Make use of secure payment gateway to reduce or prevent transaction risks via debit/credit card
Are you ready to dominate the ecommerce market with a custom-built app?
Best Practices to Combat Security Threats in E-commerce
- Make sure that your website is created using closed source code. Potential hackers won’t view or modify the source code of your website.
- Protect your website with complex passwords virtually impossible to be cracked open by hackers.
- Use a trusted firewall and install antivirus and antimalware software. Add multilayer security measures to your website.
- Make use of multi-factor authentication (MFA) to protect customer purchase and prevent data loss.
- Regularly backup sensitive and crucial data to reduce lead time to total recovery
- Use HTTPS for an extra layer of safety on your Ecommerce website. However, keep it at minimum, as most browsers block webpages not using HTTP protocol.
- Set up a failover system with one or more redundant installations. You can switch to backups of your systems or data when the primary web store is down.
- Routinely reviews third-party integrations so that you can remove the obsolete or unwanted one. It will help you minimize the threat of third-party trying to access your data.
Learn More: Best Practice for Modern Application Security
Reinforce your Ecommerce Security with Binmile’s Trusted Ecommerce Security Solutions
As ecommerce businesses continue to thrive, the level of cyber-attacks on online stores is also increasing. This leaves no doubt that the value of security on ecommerce websites is crucial for businesses to operate smoothly without encountering data breaches, financial losses, or other unwanted consequences from cybersecurity threats. Adopting cybersecurity best practices for business can help protect against these risks and ensure ongoing success.
Having robust security measures or following best practices for eCommerce security in place is also essential to prevent the damage to the online reputation of an Ecommerce brand post data breach. Sadly, in the age of technological advancements, hackers have grown more advanced. For them, hacking any website that seems even remotely vulnerable is a piece of cake.
Under such circumstances, online retailers need to proactively implement security measures to handle any possible cyber threats effectively. Binmile is one of the trusted software development company that can help you get comprehensive security for your Ecommerce website. We have been serving enterprise Ecommerce platforms with futuristic software solutions meant to transcend their growth and profitability. Schedule your call to our expert to build a powerful Ecommerce security solutions that will help you operate your business operation unhindered by any security threats.
Frequently Asked Questions
Security breaches can lead to:
- Financial losses due to fraud or ransomware.
- Damage to brand reputation and loss of customer trust.
- Penalties for non-compliance with data protection laws.
- Legal liabilities and lawsuits.
You should continuously monitor and update your security measures. Conduct regular security audits, install updates promptly, and stay informed about the latest threats and solutions in cybersecurity.
eCommerce security hinges on three critical pillars that work together to protect your online store:
- Data Security: Safeguard customer information through encryption, secure storage, and regular data backups. This ensures that sensitive data is protected from breaches.
- Transaction Security: Implement secure payment gateways, PCI-DSS compliance, and two-factor authentication to secure financial transactions.
- Customer Trust: Build trust by displaying security badges, clear privacy policies, and maintaining transparency about data use. Trust is the foundation of a secure shopping experience.
Focusing on these pillars creates a robust, secure environment for your eCommerce business.
Strengthening your online store’s security is crucial for protecting both your business and your customers. Here are key steps you can take:
- Update Regularly: Keep your website’s software, plugins, and security patches up to date to close vulnerabilities.
- Use Strong Passwords: Implement strong password policies and consider using password managers to ensure robust access control.
- Enable HTTPS: Secure your site with SSL certificates to encrypt data exchanged between your store and customers.
- Monitor Activity: Regularly monitor your website for suspicious activities and employ firewalls and security plugins for real-time protection.
