Poorly coded apps, external malware, lack of prompt backups, weak passwords can seriously damage business. Online security is a matter to pay special attention to. This applies primarily to ecommerce business owners and basically anyone involved in an online activity.
This time, we offer you to learn about the basic cyber threats not only to be aware of them but also to be able to tackle them effectively. In addition, we have included the tactics to follow to secure your online business.
Security issues make a part of running an ecommerce business. Stores in the online space don’t have physical walls, the staff works remotely in most cases, from various parts of the world. That is the reason why ecommerce activities are becoming a main target of cyber-threats.
Investments in the cybersecurity market are large and keep growing. Research and investment agency Gartner forecasts this growth to reach $170.4 billion in 2022. Businesses involved in online retail want to ensure customers in their private data safety and often work with experienced specialists providing comprehensive system protection. A big number of PEO companies help to choose a tech company to partner with and develop stronger protection. To eliminate your guesswork, we suggest you consider NEKLO.
This time, with the help of our support & maintenance team, we have gathered the most widespread cyber threats and the best practices to protect your web store and related online activities.
Nevertheless, each year cyber-attacks are becoming more sophisticated. Some can do considerable harm to a web store, no matter the scale.
Read on to learn them all.
Related: Functional & Performance Testing of Magento Online Stores
You Can Be a Target. Common eCommerce Security Threats
The mistake that many online merchants make is being ignorant. Small business owners who assume their ecommerce initiative is too small to be of interest to cyber-attackers do not pay enough attention to security measures, not to mention work with a professional support team from a custom software development company. As a result, this attitude leads to them becoming easy prey for hackers.
Realizing that your business can be a target for intruders is the first step forward to realizing how to get your business protected. Most common security cyber threats in term of ecommerce include:
- Credit card fraud
This is one of the most unwanted issues that a web store can face. Data of credit cards, the information about which is still stored at your website, gets stolen and used for cash withdrawals or making unauthorized purchases.
Credit card fraud poses a threat both for online store owners and the store’s customers. Moreover, it ruins the brand’s reputation and may lead to going broke.
- Password breaches
Sensitive information, like personal and financial data saved in the databases of your website, can be stolen following a password breach. For businesses not to become the first at blame in case anything happens, the matter is one of the main to take action about.
In our article about how to improve password security, we reveal powerful tactics you can follow to inspire your customers to create more sophisticated passwords.
- Malware and web app attacks
Malicious software, spyware, viruses, and ransomware can be installed to digital devices, hack the web server, and steal confidential information.
Together with malicious software, web app attacks present a serious threat to online stores. Poorly coded apps have lots of weaknesses, which makes hacking the databases no problem at all.
Spamming is about sending and spreading of infected links via email, social networks, comments, and contact forms that are available at your website. This type of links direct you and your clients to websites that might negatively affect data security.
Spamming is a severe problem for ecommerce websites as it:
- Significantly reduces the load speed;
- Worsens your website’s performance;
- Lowers the overall website’s security.
7 Basic Things to Do to Protect Your Online Business
Each of the cyber threats we’ve mentioned above can damage or even cause complete crush of your dedicated website. According to IBM’s “Cost of Data Breach Report”, the global average total cost of a data breach in 2020 makes $3.86 million, which is a devastating sum of money for most small or middle-sized businesses.
To help you prevent the threats, below we suggest 7 tactics that you can follow and implement easily today to bulletproof your ecommerce activity.
1. Update the system and backup data
Regular backups of key data and system updates will keep your business safe in case it undergoes a cyber attack. The backup and continuous update task can be automated so you will not have to keep it in mind all the time.
If you are running a Magento-based web store, you can easily back up the store’s data before extension or update installation following the user guide for backups. Or you can refer this work to our certified Magento developers to help you ensure regular system updates.
2. Encrypt your devices connected to the Internet
In the era of mobility, running a web store from just a desktop computer is hardly possible. Laptops, tablets, smartphones and other portable devices have made web store management on the go much simpler. However, safety still remains a concern.
To keep sensitive data safe, make sure you have checked the following:
- Devices that you use for business are protected with a strong password;
- You have a comprehensive encryption software installed on them;
- You’ve uploaded a remote lock-and-data-wipe app to your hand-held device to be able to wipe off all confidential data in case it gets lost or stolen.
3. Change your passwords making them stronger
Start with changing your network username and password. Further, go on changing your password at least once every 3 months. These are the basics of password safety. The longer you stay with the same password, the higher the risks of it being hacked.
Not to lose and forget the endless number of passwords to different accounts, we suggest using password manager apps that store passwords and automatically log you in which is very convenient.
One of the multiple solutions that you can try is Dashlane free-to-use password manager. Its core features include:
- Password storage;
- Password health check;
- Credit card data storage;
- Security alert in case your data is compromised.
You can find more tips in our article on how to improve password security to also help your customers make sure their passwords are strong and secure .
4. Add an SSL certificate to your web store
To secure customer personal data, web store owners always add a Secure Socket Layer certificate (SSL). SSL works to encrypt the data between your platform and your customers. It additionally increases overall safety of your website and prevents data breaches.
Protection of the SSL certificate is visible through your website’s URL in the address bar. “https://” instead of “http://” means your website is SSL-protected .
5. Use a VPN to secure your remote connections
This year many have started to view remote working as a beneficial option for both business owners and employees. However, in ecommerce, providing remote web store managers with access to the website and other vital data may be potentially dangerous. That is just like with public WiFi connections that often lack security.
Hiring remotely? Make it safe through the use of a virtual private network (VPN). VPN is basically an app that, when installed on a device and turned on, encrypts the internet connection and provides additional security to your business data.
6. Choose a professional crew to build a mobile app
Online merchants and business owners do not usually stop by having just a web version of their online store. In today’s realm, businesses that choose to build and introduce mobile apps win wider audiences and stay closer to the customers.
To craft a mobile app with strong security features for your ecommerce business, select a professional crew.
Experienced developers pay special attention to data encryption and security, avoid using poor coding practices, and know what’s best for this or that type of ecommerce.
By working with a professional team from an acknowledged custom software development company, you won’t get:
- Poor coding making app and business data vulnerable to hacking;
- Error information visible to hackers;
- Your users’ data exposure to hackers;
- Misprints in the code creating an additional vulnerability.
NEKLO software development company US is your opportunity to get a product that exactly meets the needs. Contact us through the form and pitch your idea.
7. Consider more than one marketing channel
Sustainable business development presupposes the diversification of advertising and marketing channels. To prevent declines in sales, take into consideration that:
- Google is constantly changing its ranking algorithms. Regular system optimizations will help rank higher is search results, attracting more traffic to your website. Is Google only enough to promote your business?
- Facebook Page reach today is not what it used to be several years ago. Posts that previously could reach 30% of your customers are now only visible to 1-2% because of algorithmic news recommendations. If you wish to promote your ecommerce activity via Facebook, see our article about new Facebook features facilitating sales, that provides information about the famous Facebook Shops in detail.
- Twitter is now also applying new filters to the news feed. For merchants, it means fewer views and lower tweets reach.
Cybersecurity is essential for running a successful ecommerce business. As cyber-attackers are becoming more and more sophisticated at their “games”, you need to be aware of threats and be able to timely tackle them.
On the other hand, it’s always a good idea to entrust your online store’s security issues to a reliable technology partner.
At NEKLO we specialize in delivering solutions for ecommerce, including support and maintenance of Magento-based web stores. Contact us through the form on our website or directly and let’s settle down issues of your business security.