Whether you’re running a business website E-Commerce Business or you’re just looking to protect your personal information, a good security plan is important. It’s not enough to merely block phishing scams. You also need to think about things like DoS/DDoS attacks.
Cybercrime Cyberattacks
Whether you’re a small retailer or a large Security in E-Commerce Business global brand, you can be at risk of cybercrime. Having an ecommerce security plan and knowing how to prevent attacks is critical for your business.
A recent study by Accenture has found that cybercrime E-Commerce Business is on the rise. The report also revealed that e-commerce security has become more important than ever.
In addition to fraud, there is a growing concern over the security of personal information. E-commerce sites store sensitive financial and personal information. These data are valuable to hackers. Often, a hacker will find a way to use a compromised computer to spread malware. This is called e-skimming.
Cyber-attacks are also gaining ground during the holiday season. Holiday shopping increases traffic to ecommerce sites and the attackers take advantage of this. They capture payment information and go on a spending spree. Having downtime is expensive, so protecting your business during this time is important.
E-commerce sites are also susceptible to phishing, which is when a scammer tricks a shopper into providing private information. The phishing messages are designed to look like messages from trusted sources, but the shopper may not recognize them as a scam.
Online retailers should inventory third party solutions to protect their businesses. They should also be aware of ecommerce security best practices. In particular, the company should be able to monitor its partners’ activities to avoid regulatory compliance fines and damage to the company’s reputation.
Cybercrime in e-commerce is a growing E-Commerce Business threat to companies of all sizes. The cost of a single attack is roughly $200,000, according to the Accenture study. The cost of cybercrime is estimated to be nearly $1 trillion worldwide by the end of 2020. In addition to the cost of the attacks, e-commerce sites are at risk of massive fines.
Despite this, many ecommerce businesses are taking measures to make their sites more secure. A common method is two-factor authentication, which means that the shopper is required to provide an additional form of identification to complete the purchase. Another tactic is removing third-party integrations from your site. This is an effective way to increase security.
DoS/DDoS attacks E-Commerce Business
Whether you own an e-commerce website or simply use the internet for business purposes, Do’s/Dodos attacks can cause massive damage. The consequences can be immediate and long-term, and the financial impact of a DDoS attack can be significant for online businesses.
DDoS attacks are often carried out by hackers Security in E-Commerce Business who target publicly facing websites. However, they may also be carried out by “hacktivists” or other non-government actors. In these cases, the hacker uses his or her skills for a social or political purpose.
When a computer’s network is overloaded, it can no longer Security in E-Commerce Business handle legitimate traffic. This can cause a variety of problems, including data corruption, software malfunctions, and server crashes.
In the case of a DoS attack, a targeted server becomes overloaded. When the server cannot keep up with the traffic, it will shut down. The attacker will then enlist the help of thousands of Internet users to flood the server with traffic. These users send hundreds or thousands of fake introductions to the server, which the server is unable to tell is real.
Usually, DDoS traffic comes from compromised systems. The server is then overwhelmed with false data requests. This causes the server to slow down, making it unusable to legitimate users.
The resulting damage can be permanent, affecting sales and customers. If a site is down for a prolonged period, consumers will lose confidence in the site and will be more likely to take their business elsewhere.
To avoid damage, a business should identify and mitigate a DDoS attack as soon as possible. The damage can be largely avoided by lowering ICMP and UDP flood-drop thresholds and by implementing technical security measures such as traffic thresholds and filtering suspicious packets.
DDoS attacks can be defended against with technical and signature identification solutions. Additionally, businesses can protect against DoS attacks by adopting best practices such as complex passwords and avoiding writing down passwords in notes.
DDoS/DDoS attacks are costly to run. One study found that, in the case of an e-commerce website, the average loss was about $50 per day. That means a down website can cost a mid-sized online business about $45,000.
Pre-holiday security check for e-commerce sites
Keeping your e-commerce site secure can be a challenge during the holiday season. Cybercriminals are on the prowl for vulnerable websites. Keeping a close eye on security measures is a great way to keep your customers’ information safe.
During the holiday shopping season, e-commerce websites can experience a spike in traffic. This means more customer questions and concerns. However, it is also a perfect E-Commerce Business opportunity for cybercriminals to take advantage of distracted shoppers.
To protect your e-commerce website, you can use a trusted Security in E-Commerce Business third party payment processor and install a Web Application Firewall. These two technologies can help prevent DDoS attacks from debilitating your storefront. Having a secure password manager can also prevent account-takeover attacks.
A good eCommerce site security solution will also scan your site for malware. A malware attack can cause your website to crash, leaving your customers frustrated and out of pocket.
Another good practice is to ensure that your website is regularly updated. Several e-commerce CMS/platforms include security patches in their software updates. But, not all e-commerce sites have these capabilities.
One of the most important things you can do is to keep your employees updated on the latest phishing and scams. A good employee training program will help your workers to avoid malicious e-commerce websites.
You should also look into a reliable VPN service. VPN services protect your corporate network and provide a degree of privacy. You should also implement an SSL certificate on your website. This will help to encrypt data as it moves between your system and your customers.
To be safe, you should consider hiring an outside cybersecurity expert to help you with your holiday security needs. A security service provider can quickly identify relevant threats and offer intelligence driven remediation and mitigation plans.
A pre-holiday security check for your e-commerce website can help to ensure a successful holiday sales campaign. Make sure to limit access, install a reliable third party payment processor, and patch your website for vulnerabilities. In addition, you should take steps to improve your online reputation by installing trust badges on your site.
Two-factor authentication
Whether you’re an online retailer, a public institution or a company with a high risk of data breaches, it’s important to make sure you have strong two-factor authentication E-Commerce Business in place. It’s the safest way to ensure that only authorized users have access to sensitive data.
Merchants that have implemented two-factor authentication (also known as two-step verification) have found it to be an effective fraud prevention tool. It also helps prevent phishing attacks.
It’s important Security in E-Commerce Business to consider all of the different Security in E-Commerce Business factors that make up a merchant’s security strategy. Some of the things that you should be thinking about include: your customer base, the vertical that you serve, and your overall security strategy.
There are many different forms of two-factor authentication, including push E-Commerce Business and SMS-based methods. Each method requires a user to input a code or receive a signal Security in Security in E-Commerce Business from their phone to confirm their identity.
Some of the most common ways to use two-factor authentication are via software tokens and SMS. These tokens are stored on dedicated hardware devices, and the codes are generated every few seconds. They cannot be duplicated, and can’t be Security in E-Commerce Business used to login to a different device.
Another type of two-factor authentication is through a third-party app. These apps are used to generate a six-digit number that is entered into the authentication page. In addition, they may also show a randomly generated code.
Despite these benefits, it’s important to remember Security in E-Commerce Business that two-factor authentication in e-commerce doesn’t always make shopping online easier. The extra steps involved can increase customer friction, and some customers may choose to shop elsewhere. However, for the most part, customers will feel safer and more comfortable making purchases online with a merchant who takes extra precautions.
When you’re looking into two-factor authentication for your Security in E-commerce business, be sure to take into consideration all of the different factors that you’ll need to make it work. You’ll need to consider the hardware you’ll need to support the technology, as well as the security and ease of use. There are many different options to choose from, so it’s best to do your research before you start making your final decision.
- The Payment Card Industry Security Standards Council outlines procedures for the safe handling of financial data.
- In addition to a standard solution such as client login information, businesses should also implement two-factor authentication, which requires an additional step for login. This can be a mobile app or email address.
- Customers’ personal information, such as credit card numbers, names, and addresses, is one of the biggest assets of an ecommerce business.
- If this information is compromised, it can be used to commit fraud or identity theft.
- This can lead to malware being downloaded and used to hijack sensitive information.
- E-commerce sites contain a treasure trove of financial and personal data. The Federal Trade Commission monitors these activities to prevent fraud and privacy breaches.
- The attacker will then enlist the help of thousands of Internet users to flood the server with traffic.
- A pre-holiday security check for your e-commerce website can help to ensure a successful holiday sales campaign.
- It’s important to consider all of the different factors that make up a merchant’s security strategy.
Conclusion
Investing in security measures is a must for e-commerce businesses. They are at risk of cyber-attacks that can jeopardize sensitive customer data. The best way to protect your business is to ensure that your employees are educated on the risks of cyber-attacks. You should also implement security technologies, such as SSL certificates, to keep your company’s data safe. In addition to the traditional trade risks that apply to e-commerce, hackers are finding new ways to exploit vulnerabilities.