Buyers appreciate having millions of products available at their fingertips and the option to browse from the comfort of their own couches! According to Statista, online sales revenues are projected to hit $4.5 trillion by 2023.
But as something so beloved by all can also draw unwanted attention. According to Cybersecurity Ventures’ Annual Cybercrime Report (ACR), cybercrime losses are expected to cost organizations $6 trillion every year.
1) Selecting the Best Hosting Service
When working within a tight budget, it can be tempting to opt for the lowest hosting package available. Unfortunately, many company owners assume all hosting companies are the same; this assumption is inaccurate: website security, speed, SEO performance and traffic handling capacity depend significantly on your hosting environment. When selecting a plan, be sure to look into which security measures they use to secure client websites – such as providing up-to-date server software, DDoS attack protection, hack prevention tools such as automated backups daily virus scans spam prevention as well as email protection?
2) Update Your Software Frequently
Software updates can be one of the leading causes of security breaches, but there’s an easy solution: If your eCommerce store uses WordPress, be sure to update all components as soon as a patch comes out – including plugins and themes for WordPress itself! Even if your website isn’t WordPress, updates must still be monitored regularly. Be it web server software or third-party programming like Java, Python, Perl, WordPress or Joomla; when a new version becomes available install it immediately to secure your system from hackers exploiting its security flaws. Updates exist for good reason; when software manufacturer teams patch vulnerabilities found in prior versions their team often releases an upgrade, which should prevent vulnerabilities being exploited by hackers who would exploit any potential weaknesses within it.
3) Make use of a Web Application Firewall
An effective website firewall is an essential element of any comprehensive website security strategy, providing protection from attacks such as distributed denial of service (DDoS), SQL injection and cross-site request forgery. Firewalls monitor any suspicious traffic or requests before they reach your website – and best of all for small enterprises they come at reasonable costs!
4) Make Strong Passwords Required
Ecommerce websites usually require customers to create an account in order to complete the checkout process, making future transactions more convenient for both themselves and merchants. Unfortunately, if there are a large number of accounts on your website belonging to workers, vendors, distributors, authors, co-admins etc. with weak passwords this opens them up to brute force attacks from hackers who seek access.
5) Turn on two-factor authentication
Most financial institutions now offer two-factor verification or authentication (2FA). Users who make financial transactions must pass through an additional layer of protection beyond traditional passwords when conducting financial transactions. A commonly employed method for two-factor authentication involves sending an OTP (one-time password) directly to your cell phone – you then provide this code in order to proceed with purchases.
6) Follow PCI Compliance Standards
Attaining and upholding Payment Card Industry Data Security Standard (PCI DSS) compliance is essential for all firms that accept credit/debit card payments, regardless of size. To help determine compliance, the PCI self-assessment questionnaire (SAQ) manual outlines various standards that must be met in order to gain accreditation, helping your firm identify any gaps in its payment security measures.
7) Setup an SSL Certificate
PCI compliance mandates the installation of an SSL certificate from Comodo, which offers multiple benefits: * Verifying website owner identity (for OV and EV certificates); This step helps prevent users from falling prey to phishing attempts by encrypting the connection between user’s browsers and websites (server). HTTPS also enables HTTPS, displays a padlock icon in front of domain names and raises their profile in Google search results. In the rare event of encryption failure it provides warranties similar to insurance. Furthermore it creates static or dynamic site seals – small graphics which appear on all encrypted pages serving as trust indicators while dynamic seals provide additional information about a website’s contents – thus increasing user trust while giving extra details about its contents (eg dynamic site seals provide extra information).
8) Customers’ sensitive information should not be stored
Some eCommerce companies seek to collect as much user data as possible in order to study consumer behaviors and demographics and make more informed marketing decisions. Some online retailers additionally allow customers to save their credit/debit card numbers, CVV codes and associated data to their accounts for easier checkout experiences.
9) Maintain Regular Data Backups
Even if your website is secure, a comprehensive Disaster Recovery Plan (DRP) must be in place. Ensuring your hosting business automates data backups is one approach; regularly backing up data is another. As hacking events, viruses, human error, system failures and natural calamities pose threats, it is wise to have multiple backup locations ready at any given time for quick retrieval of crucial files.
10) Educate Your Employees on Data Security
Make sure that your workers understand data protection regulations, such as not providing confidential client information via chat or email and how to identify and respond to online threats such as phishing attempts. It is advisable that regular security training sessions be held to make them aware of your organization’s rules and regulations, key cyber security best practices and online threats so they do not click or open anything suspicious from company devices. It would also be prudent to obtain written copies of its data security policy from them.