In today’s digital age, e-commerce platforms have become an integral part of the modern business world. With the popularity of online shopping, e-commerce platforms have become an important tool for companies of all sizes to reach their customers and grow their business. Yet, with this convenience comes the risk of security threats. 2020 had an all-time record with cyber-attacks, reaching an increase of 38% compared to 2021. As a business owner, it is crucial to take the necessary steps to increase your cyber security of your e-commerce platform in order to protect your business and customers.
In this blog post, we will discuss 8 of the most common steps for securing your e-commerce platform.
Weak passwords are one of the primary reasons for security breaches. Strong passwords can help prevent hackers from gaining access to your e-commerce platform and potentially harming your business. The use of complex passwords with a combination of letters, numbers, and symbols is very important. It is also recommended to encourage your customers to create strong passwords by setting password requirements for account creation.
This step will surprise you with how often is skipped, yet, it can truly secure your platform. Two-factor authentication adds an additional layer of protection. It requires users to provide two different types of authentication factors, such as a password and a code sent to their mobile phone. This step can help prevent hackers from accessing your customers’ accounts, even when they have discovered a method to log in.
“The reality is that for most people, passwords are no longer enough. That’s why multi-factor authentication has become an increasingly important tool for helping protect online accounts against identity theft.” – Brad Smith, President of Microsoft.
“The reality is that for most people, passwords are no longer enough. That’s why multi-factor authentication has become an increasingly important tool for helping protect online accounts against identity theft.”
SSL (Secure Socket Layer) and TLS (Transport Layer Security) certificates are protocols that encrypt data transmitted between web servers and browsers. These protocols prevent attackers from intercepting and accessing sensitive information, such as login credentials, credit card numbers, and personal details. As a business owner, ensure that your website uses an SSL/TLS certificate to secure the data of your customers.
Migrating your website to HTTPS, which necessitates an SSL certificate, can enhance its security. In addition, HTTPS can be beneficial to your marketing efforts since Google tends to penalize websites that use HTTP in organic search rankings. HTTPS also communicates a positive trust signal to your customers, especially those who are knowledgeable about digital security.
Conduct an inventory of all third-party solutions being used on your website. Verify that you are aware of what they are and evaluate your ongoing level of trust in the third party. If you are no longer using a specific third-party integration, remove it from your website. The objective is to limit the number of parties that have access to your customers’ data while still advancing your business.
Storing old transaction records spanning several years has been a long-standing practice. However, there is no valid reason to retain thousands of customer records, especially if they contain sensitive information such as credit card details and expiration dates. It is advisable to routinely remove old records from your database and preserve only the necessary data required to handle refunds and chargebacks.
“By minimizing the customer data you collect, you reduce the risk of data breaches and protect the privacy of your customers. Collect only what’s necessary and make sure you have appropriate security measures in place to protect it.” – Stewart Butterfield, Co-founder of Slack.
“By minimizing the customer data you collect, you reduce the risk of data breaches and protect the privacy of your customers. Collect only what’s necessary and make sure you have appropriate security measures in place to protect it.”
Finally, to avoid falling prey to phishing scams and other cyber threats, provide your staff with training to educate them about the risks. Here are a few things to consider discussing with your team:
GDPR compliance: If your business caters to EU-based customers, your employees must be well-versed in GDPR regulations and ensure the company’s adherence to them.
Phishing scams: Educate your employees on how to identify phishing emails and messages. Nowadays, there is a rise in email traps with suspicious links, and often employees fail to suspect the threat.
How to report suspicious activity/software: It is critical to establish guidelines for reporting any suspicious software, activity, or messages.
Malware checks: Consider investing in malware software and training your staff to perform regular scans to detect any malicious software.
Securing your e-commerce platform is critical to the success and growth of your business. By following these essential tips, you can reduce the risk of security breaches and protect your business and your customers’ data. Ensure that you prioritize security when building and maintaining your e-commerce platform.
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