8 Ways to Boost Your E-commerce Security
The number of digital buyers has increased from 1.32 billion in 2014 to 1.92 billion in 2019 and is expected to reach a mammoth 2.14 billion in 2021. The world has changed so much that people today are more than willing to share their personal data, including credit/ debit card details, online with entities that may or may not know. When businesses have such privileged access to customer data, they must be extremely proactive and cautious about e-commerce security, especially in the context of the increasing frequency and sophistication of cyber-attacks and data breaches.
In this article, we will tell you about security concerns facing e-commerce websites and ways to boost your e-commerce website’s security.
Security Issues that Face E-commerce Websites/ Web Applications
The most common kinds of threats facing e-commerce websites/ applications are phishing, man-in-the-middle attacks, DDoS attacks, social engineering attacks, malware, spam, bad bots, clickjacking, etc.
Attackers use these threats for
- Engaging in login and credit card frauds by stealing customer credentials and/or payment information.
- Price manipulation to steal your data.
- Causing downtime/ crashes and divert all your traffic competitor sites
- Imitating your content to lower your SEO rank, etc.
Ways to Boost E-Commerce Security
Open source vs closed source software
While purchasing an e-commerce software to develop your website/ web application, consider the pros and cons of both open source and closed source software, beyond their price. You must consider the security level of the development framework, the quality of the developers, the ease with which you can control the developmental environment, how easy is it for other parties to make changes to the source code, etc.
Choose only SSL-certified and security compliant payment gateway services and other third-party services providers/ vendors
Web application security of your e-commerce website/ application is only as good as the strength and effectiveness of the security of your vendors and third-party service providers. In 2018, breaches in 24.ai – AI-service provider for online chat support – caused 100,000 customers’ credit information of Sears Holding Corporation and Delta Airlines to be compromised. Similarly, a 2017 breach on the Point-of-Sale (POS) systems of Saks Fifth Avenue and Lord & Taylor due to poor malware security caused credit/ debit card details of 5 million customers to be stolen.
So, exercise the highest levels of caution and choose only SSL-certified, trustworthy, and security compliant vendors and third-party service providers, regardless of whether they are payment gateway service providers or AI chat support or hosting service. Ensure that the vendors perform regular security audits and that they do not store payment information.
Collect only data that is necessary and don’t store it longer than required
This includes sensitive and confidential information such as payment details, personal addresses, credit card information, etc.
PCI DSS compliance requirements lay down an outline and guide of best practices for e-commerce security and effective tactics to combat threats. PCI Compliance is mandatory for e-commerce sites and platforms, irrespective of your size and volume of sales. Treat PCI compliance as the minimum/basic security standard that you must maintain. Build a security strategy that is robust and comprehensive above these standards.
Having your website SSL-certified (getting HTTPS on the browser address bar) is an indication that your website is secure and authentic and is a great way to elicit customer trust. By encrypting data, this protocol ensures a degree of security against fraudulent activities.
Regular Updates and Backups are non-negotiable
Having a failover system in place and regularly backing data up can minimize the chances of outage and downtimes for customers should there be a power outage, technical glitches, or other issues with your e-commerce website. Something as simple as regularly updating the software (updates contain critical patches) can go a long way in saving the company from huge losses that breaches bring.
Create a security-focused mindset within your organization
Regular train employees on web application security and what steps to take from their end to ensure they do not compromise the site’s security, authenticity, and integrity. Enforce a strong password policy within your organization and ensure that all employees follow the security guidelines and practices.
Onboard an intelligent, comprehensive, managed security solution
An intelligent, comprehensive, and managed security solution like AppTrana offers multi-layered security that combines the power of automation (for scanning, monitoring traffic, and other regular tasks) with the expertise and skills of certified security experts (to conduct regular security audits, pen-tests, and security analyses). It enables you to maintain a robust security posture for your e-commerce website/ application and ensure that it is always authentic and available to legitimate users.