Like shop owners resolve to install CCTV cameras for surveillance, security protocols are installed on websites for the same purpose.
Every e-entrepreneur has to maintain the utmost security in today’s world due to the increasing number of cybercrimes.
Many e-commerce security threats are prevailing in the online spectrum. Hackers can quickly pounce on the opportunity and steal your data if not catered to.
With the growing reliance on ecommerce platforms, customers too wish to have secure online transactions through their cards.
As a business owner, you only get a single chance to make your impression; it is best not to mess that up with a poor security strategy.
So, here are seven threats that you need to watch out for in 2021:
7 E-Commerce Security Threats You Need to Watch Out For
1. Refund frauds
Some customers can be insane. At first, they would buy a product from your store and, after using it for a couple of days, return it to get their money back.
This kind of deception is termed refund fraud.
Though there is no real solution to that since some of the products might be ineffective, and customers ask for a refund for the right reasons, you can still set a strict refund policy.
For example, you can track those customers who repeatedly ask for refunds even after receiving genuine products and strip the refund option away from them.
2. SSL security
Another major issue with business owners is that some consider SSL certificates as an overhead expense.
This is false. An SSL or Secure Socket Layer certificate protects your website’s connection by encrypting the communication going on between your web server and your customer’s web browser.
SSL helps keep hackers at bay by not allowing them to see what’s being transferred on the network.
Despite Google’s warning, some businesses are still not willing to understand the importance of SSL security.
Such businesses must understand that SSL is more of a lock in your shop.
Not installing an SSL is like not locking your shop’s door after leaving. Any thief or burglar can enter your shop and steal all the products.
SSL eliminates prominent security threats such as MITM attacks and helps your customers know that you are an authentic entity in the market. It secures your in-transit communications by encrypting the PII, which the intended recipient can only decrypt.
To make your site authenticate, you need an SSL certificate from reputed certificate authority. However, it would be a wise decision if you purchase and install EV ssl cert. with the increase in SSL demand, you can find a cheap EV SSL certificate easily in the market. When you have an EV SSL, your browser will show a verified company name when a user clicks on a padlock. Upon seeing a company name, customers gets assurance.
They trust you with your products, services and security. Moreover, your Google rankings also increase substantially, helping you stamp your authority in the market.
So, buy and install an SSL certificate today.
Spammers are lurking everywhere, looking for every website that gets more traffic.
Ecommerce websites are renowned for their traffic. Thousands of people visit them daily, making them a perfect breeding ground for spammers.
For example, a spammer can exploit your contact forms by adding unsolicited links to them. They can also send such links to your inbox and the comments section of your website.
Once clicked, the link may redirect you to an unsolicited website from where a malware injection can take place.
So, always keep a close watch on your direct messages, comments, and contact form details.
4. Phishing attacks
Another prominent threat in e-commerce is phishing attacks.
While we all are aware of phishing emails sent to our customers by masquerading our website, hackers have also started using social media messaging to tap customers and clients.
For example, hackers would message your customer by masquerading you and asking them to click on some unsolicited links to enter their account details.
Once they get the details, they sell it on the dark web or compromise your customer’s bank account.
So, educate your customers about such attacks.
The word Bot reminds us of Google’s crawlers and how they crawl our pages and help up rank higher.
But the bots that we are talking about here have nothing to do with your rankings. They want to bring them down.
Well, these bots, if they successfully compromise your website, can scrape your pricing and inventory.
They can change and manipulate your prices at will. They can also acquire information about the best-selling inventory and customers’ shopping carts.
So, keep a close look at everything that tries to modify something on your website.
6. Using older software versions
Some businesses believe software updates are not a thing to focus on. They ignore updates and become vulnerable to cyberattacks.
Software updates are issued so that developers can patch security vulnerabilities. Updates help you stay one step ahead of hackers.
For example, hackers can easily exploit outdated software by sending bots to compromise it. Unpatched software is as good as using a non-SSL website.
So, it is best to update your CMS software every time it appears. Also, some CMS platforms allow you to update them automatically. If that’s what is available with your CMS, too then, that is what you must do.
7. Brute force attacks
Another prominent threat to e-commerce security is brute force attacks. These types of attacks are aimed at a website’s admin panel.
For example, a hacker would establish a connection with a website and try all possible password combinations to breakthrough.
To avoid damage from such attacks, you must change your default admin URL to something tough to guess.
Secondly, you must limit your login attempts to 3 at max. Anybody who enters three wrong passwords must be asked to verify their identity through a mobile number or email address.
With a global surge in cybercrime, ecommerce websites must adhere to security measures if they want to stay on top of the pile.
Hackers are innovating unique ways to compromise software. They are resorting to masquerading websites, phishing attacks and brute force attacks to compromise businesses.
Only if a business is ready to tackle all these threats can It succeed in today’s fast-paced world.
There should be no two ways to buy SSL certificates and firewalls. Whether or not you find them worthwhile for security, you have to install them to accept online payments and higher search rankings.
So, consider these seven threats given above and integrate their solutions into your website.