According to verified records and surveys, the eCommerce industry faces more than 945 data breaches which alarmingly exposed over 4.5 billion data records in a single span of a year. These data are not just threatening but serves as an eye-opener of the fact that even leading eCommerce giants are not safe from cyber-attacks. Most often, the victims of these cyber-attacks are small and medium-sized enterprises.
- What is eCommerce Security?
- Common eCommerce security threats?
- Cross-Site Scripting (XSS)
- SQL injection
- Distributed Denial of Service (DDoS)
- Hacker Fraud
- The Combat Practices – Types of eCommerce Security
- Investing in a secure eCommerce Platform
- Transactions Tracking and Monitoring
- Adding SSL authentication and HTTPS Encryption
- Using firewalls
- Final Word of Caution
The eCommerce industry holds immense potential for the growth of an economy and its allied sectors too and therefore the stakes are pretty high. In such a scenario, cyber-attacks can be detrimental and throws the harsh question of a business’s existence in a competitive ecosystem.
Before delving further, let’s first conceptualize the understanding of eCommerce security.
What is eCommerce Security?
In simple words, the definition of eCommerce security deals with the safe maintenance and enabling of and secures electronic transactions done against the purchases of goods and services from the respective website. There are a number of protocols that have been implemented to make sure that the safety and protection standards of online transactions are never compromised.
It is the business owner’s duty to instill a sense of security in his or her customers and can confidently build their trust upon you before buying anything from your eCommerce website. Not just essential but also extremely inevitable to have functional and strong eCommerce security practices in place for fortifying that trust and credibility amongst your customers.
Even for a moment you if you keep aside the financial consequences that are faced post a cyber-attack or breach, what’s equally concerning is the significant harm that it has caused to the brand’s reputation. As an obvious consequence, customers will be no longer eager or interested to continue shopping with your brand having a serious worry of using their sensitive data on your website.
Common eCommerce security threats?
Sensitive data such as credit/debit card details, bank accounts, passports, and driving licenses are frequently being submitted online. There are plenty of hackers who are always out on hunting of such information and sell on the dark web. Here are a few of the most common threats of eCommerce which once again emphasizes the importance of eCommerce security:
Cross-Site Scripting (XSS)
Websites and web-based applications are very prone to SQL injection thereby utilizing the SQL database. In an SQL injection attack, the hacker inserts a malicious SQL query into a packaged payload that imitates itself to look alike a legitimate SQL
The hacker further gains illegal access to the database while processing the SQL query and gets the permit to view multiple sensitive data. The hacker can also delete entries, or make a creation of an administrator account with which he or she will have complete access to your eCommerce website via the backend.
Distributed Denial of Service (DDoS)
Distributed Denial of Service (DDoS) overloads your server with countless requests that come from multiple IP addresses and takes down your eCommerce website completely. Such IP addresses are usually conceded by malware and are forcibly made to make several requests to the respective website. It makes the website perform slowly as a result of overloaded server and at times makes your website temporarily offline, barring the consumers to make any sort of purchases.
Hackers always have plenty of ways to steal user’s sensitive data or login credentials from eCommerce websites. Technologies like automation, bots are generally used for finding effective combinations of username and password data by using brute force. An eCommerce website that has a sub-standard security system, hackers will have to their advantage to steal user credentials via the website database.
Malware is software which causes harm to a server, network or a website. It can take up the form of various Trojans, viruses, worms, etc and execute a wide array of harmful activities. It can control computers or form a botnet, taking the shape of a much more extensive DDoS attack that is used for stealing sensitive data or performing spam activities.
Phishing generally takes place through an email and disguises itself to be genuine representing a company or a reputable individual. They contain a specific link redirects you to junk or fake websites meanwhile, the hackers steal information or work on installing malware on your device.
The Combat Practices – Types of eCommerce Security
Investing in a secure eCommerce Platform
When you highlight the need for eCommerce security, one of the most basic and most important practices is to choose the correct eCommerce platform and correct measures for Your ecommerce security. As earlier mentioned, irrespective of open source eCommerce platforms to be popular these days, yet it is prone to eCommerce security threats if they are not maintained properly. SaaS eCommerce platforms, such as Core DNA can be considered as a secure solution and must be taken care of by conducting regular audits.
Transactions Tracking and Monitoring
It is a very good practice to audit the transactions happening from your website. Sit with your finance team and invest in analogizing the transactions to check billing and shipping addresses to be similar or at least belongs from the same country. When they don’t match, it is often considered a red flag. To ensure a transaction is legit, the physical location of the consumer gives you a strong indication.
Adding SSL authentication and HTTPS Encryption
Implementing SSL (Secure Sockets Layer) and HTTPS encryption is very important. It helps in authenticating your business identity and provides customers with the reassurance of your website being safe to use. SSL (Secure Sockets Layer) establishes a secure channel between machines or devices thereby operating on an internal network or over the internet. The communication is encrypted between these two devices and keeps it safe against third-party snooping and attacks.
Firewalls can be also called the line of defense for your eCommerce website against cyber-attacks. It prevents breach attacks and keeps sensitive information protected. A basic firewall only looks into filtering the traffic inflow coming from various digital sources and ensures that only proper types of traffic are permitted. In a manual process of using firewalls, they can block specific IPs and detect attacks.
Fortunately, Web Application Firewalls (WAF) devices, known to be a new kind of firewall can run an in-depth inspection of all the traffic coming to your website. They are equipped in identifying and preventing various cyber-attacks including SQL injections to XSS.
Final Word of Caution
Thus, security issues in eCommerce are a concern but should not stop the smooth flow of business. If handled and managed carefully having a strong eCommerce security, in turn, takes your business a long way. eCommerce security threats and solutions are a part of this game and only your wise decision will matter the most.