Cybersecurity has become one of the most important features of the e-commerce ecosystem. Small businesses face the biggest brunt of cyber-threats. 1 in every 5 Small and medium businesses (SMB) fall victim to fraud every year. 60% of these businesses are unable to recover from a cyberattack. What e-commerce security measures should you take to avoid the same fate?
Any e-commerce transaction has two participants- the merchant and the consumer. Lapse of security from either participant could cause a considerable amount of damage. Consumer training, to avert cyber threats, is still at a stage of infancy. Thus, the burden to create a secure environment falls majorly on the shoulders of online businesses. Here are some proven e-commerce security measures that every online business should follow.
Encryption transforms data into an unreadable form to ensure privacy. The stored data should be encrypted before storage. All e-commerce platforms offer AES (Advanced Encryption Standard) data encryption schemes for stored data. Advanced Encryption Standard (AES) is a powerful encryption algorithm based on the Rijndael cipher. This cipher is employed and recommended by government agencies for top-secret data storage and is considered the industry standard for storing extremely sensitive data.
2. Secure connection
Encryption is also applicable to transmitted data. This ensures confidentiality and prevents Man in the middle (MITM) attacks. Secure Socket Layer (SSL) and its successor Transport Layer Security (TLS) enables secure client and server communication. The protocol aims to prevent eavesdropping, information tampering, and forgery while transmitting data over the Internet.
Enabled SSL certificate also reflects on your website’s URL as “https://” with a green lock beside it. This green lock symbolizes the security of the connection. Search engines also rank your website higher on the search list if you have an “https” connection.
3. Malware protection
Malware or Malicious Software is a code injected by a fraudster or malicious entity into your website, generally to steal data. The malware infection is difficult to detect unless the website shows obvious symptoms like freezing or crashing. Hence, it is important to be proactive instead of reactive when it comes to protecting your website against malware. Having an active malware scanner is one of the most important e-commerce security measures.
There are numerous malware scanners available in the market. What should you look for in a malware scanner for your store
- Malware flagging.
- File modification report.
- Blacklist monitoring.
- Malware scan scheduling.
- Resource optimization.
- A Malware scanner should not slow down your website.
A firewall is the first line of defense for a website. It filters the traffic that your website receives, allowing only authentic organic traffic and preventing harmful0 traffic. This protects against hacks, brute force attacks, DDoS attacks, cross-site scripting, SQL injection, and zero-day exploits.
Other than that, Astra’s firewall provides features like IP blocking, country blocking, visitor analytics reports, etc. Astra Security Firewall provides 360-degree protection to your website against the above mentioned cyber threats, malware, bots, LFI, RFI, OWASP Top 10, spam, and several other web threats.
5. Compliance with industry standards
Government and private organizations understand the importance of data privacy and cybersecurity. Thus, they have formulated guidelines to maintain an e-commerce security standard across different industries.
GDPR (General Data Protection Regulation) was enacted by the European Union to protect the data privacy of the citizens in the European Economic Area (EEA). GDPR came into effect in May 2018. All businesses that have a presence in the European market come under the radar of GDPR, and not just the European businesses.
PCI-DSS shot for Payment Card Industry Data Security Standard is a directive formed and regulated by the PCI-SSC council. After facing losses due to several scams, major credit card companies came together to formulate the standards for card payments. Online store that use credit card or other payment method for checkouts must follow PC norms and requirements. It is crucial for businesses to enhance credit card security of their e-commerce store in order to check credit-card frauds and data theft.
6. Digital signature
A digital signature is a digital code encrypted into an electronically transferred document. The content of the document and the sender’s identity can be verified using digital signatures. In case the data is altered, the electronic signature automatically becomes invalid. This feature allows enforcement of non-repudiation. When an online transaction takes place between a business and a consumer, both the parties agree on certain terms of the transaction that should be respected. This means the customer can not outrightly deny he has not signed the receipt when in fact, did. Thus, saving you e-commerce from fake returns and forced refunds.
7. Active vigilance
When securing a website, the most important e-commerce security measures is maintaining a proactive security and not reactive patching. Most hackers do not target individual websites. They look for prevalent vulnerabilities and create a bot that exploits the vulnerability in a batch of similar websites. Hackers want easy money with little effort. Thus, maintaining round-the-clock security on the website reduces the chances of a cyberattack by many folds.
In order to run a reliable online business, it is important to give due care to its security. Now that you know how, take advantage of the online space to drive tons of visitors and sales while ensuring safety & security of your business and your customers.