The world of online commerce is like a room full of possibilities. The sales figure is reaching new heights and the future is looking bright with eCommerce revenue hitting £3.2 Trillion this year.
But is this all really rainbows and sunshine? Absolutely not
With all things getting better and tech-savvy in the eCommerce world, there are some emerging issues too. In this blog, we are going to explain the dark side of the business that is the issues in eCommerce security and the questions of how security issues in eCommerce can be overcome.
Let’s get started!
Discussing eCommerce security: Are you sure about your e-safety?
Before getting into the security issues in eCommerce lets discuss what the concept of security in eCommerce solutions is.
Security has been a vital concern of both physical and digital businesses. Recent times have seen a boost in online business that has resulted in an increase of online scams as well but before that, the conventional form of business i.e., brick and mortar store was also the target of fraud attempts such as point of sale and other security cyber-attacks.
In order to be safe from these attacks, the business owners need to make sure their business website and customer data are safe.
But the question is, what exactly is eCommerce security?
An internet saga: eCommerce security
The security is all about privacy and this is the main concern for any web design and development agency. Its purpose is to make sure that internet protocols are secure and to make buying and selling online easy for online consumers.
To ensure safety at the higher level, the basics need to be correct this includes;
- The integrity and the privacy
- Verification of rejection
Let’s discuss each one of them individually, to understand the vulnerabilities of online business. This will make it easier to understand and tackle the eCommerce security issue.
1. The integrity of the consumer data
The most important aspect related to eCommerce security nowadays is user data. Any data shared with the business from the client-side must be protected at all cost.
It is the responsibility of the business to make sure the data is unchanged and in the safest of hands.
The right thing to do here to use that data without altering it.
If not, it means the loss of trust from the consumer side which can eventually turn into a business loss.
Here is what to avoid to ensure customer data integrity:
- Human error
- Transfer error
- Compromised hardware
- Physical comprise of devices
2. The privacy of the data is key to customers’ trust
The other important aspect of consumer data and eCommerce security issues is keeping it private. This includes making sure that;
- The data is secure
- The data of consumer is not shared with anyone
- No one can access vital information such as; account data, user’s personal material etc.
To ensure customer data security, work on; limiting the access to that data by ensuring the latest encryption and other data security techniques. Also, train your staff regarding data security.
But is this data really at Risk?
Yes. It can happen. If the vender is not serious about the breach possibilities and any hacking attempt can compromise the consumer data then there is a possibility that this data could be misused by those accessing it.
But how to be secure?
To make sure the privacy and integrity of data, the business owner needs to take the necessary measures. It can help a lot in gaining the trust of clients in long term. This includes all data security measures, such as;
- A secure webserver
3- Non-repudiation to ensure eCommerce security
Non-repudiation is a legal term and this simply means, not to deny and to own up your actions during a transaction. Once you have proceeded with a deal with the client, you can’t back down on it.
Since every decision is made online, the responsibility of respective actions should be taken by businesses and clients equally.
One can’t simply retreat after putting up a request for a deal or doing a transaction. This aspect is important as it ensures the safety of online business for both eCommerce business owners and its users.
Watch out: Security issues in eCommerce
Different studies on online businesses came up with a unanimous result that eCommerce stores are more prone to get attacked by scammers and become a target of fraud and fake money transfers than any brick-and-mortar store.
Now the main concern is the technological advancements that are both a blessing and a curse here. It has a positive impact on the eCommerce world but at the same time, this technology is being used by hoaxers for cons.
Security issues in eCommerce: is it really scary out there?
We see all kinds of websites on a daily basis and eCommerce development is a big reality in today’s marketplace. There is no doubt that the online business market is growing and thriving and it is filled with opportunities but so are the dangers of business security.
Like any other field, the eCommerce world has its share of risks. The traditional businesses faced a number of threats which now diverged to online business with the upgrade of technology.
According to eCommerce cybercrime reports, the number of attacks on online businesses is unprecedented.
Security issues in eCommerce are causing a lot of damage to businesses not only just on the financial level but also their reputation.
The damage: attacks on eCommerce are around 33% of the total. The most affected ones are small businesses which face 50% of attacks. A total of 30% of request to all websites are actually spam.
Now that we have discussed the severity of issues, let’s have a look at security issues in eCommerce and the ways to prevent them.
Security issues in eCommerce
The number of threats faced by eCommerce solutions are a lot. It includes a number of threats such as;
- The ill use of private data
- Hacking attempts
- Money frauds
- Credit card theft
Let’s discuss how these have been polluting online businesses and causing security risks.
The number one concern for online businesses is spamming. It damages email marketing campaigns and other than causing security and affecting speed issues for websites the spammers put harmful; links everywhere.
Hackers are doing all kinds of financial frauds with online businesses. This includes carrying out fake transactions, making false claims and items refund requests.
This is the same as impersonating. The con artists misuse the eCommerce platforms to get private information from users. They pretend to be business owners and send emails to potential clients. They then exploit the data to gain access to sensitive information.
This is the distributed denial of services and denial of service attacks. This is done to upset the web traffic which eventually results in a website crash. These type of cyber security threats are harmful to business sales.
This is an attack on your database. They access your data by injecting malicious code to access your database.
Following is a list of some other security issues in eCommerce;
- Trojan horses
- Brute force
- Credit card fraud
- Account acquirement
- Price scraping
- Man-in-the-middle Attacks
How security issues in eCommerce can be overcome
Now we will help you tackle these risks of eCommerce and discuss how security issues in eCommerce can be overcome.
So, as we know by now how these eCommerce security issues are causing damage to all types of eCommerce solutions. If you are an owner of an online business, you need to make sure that you are secure from these same and to ensure this you need to do the following steps.
- Choosing a PCI Compliant Hosting Provider
- Should be using an Address Verification System (AVS)
- Always get reliable and passwords
- The use of SSL Certificates is a must
- Make sure your servers & Admin Panels are secure
- Use payment gateways with top notch security
- Anti-Malware software is essential
- Add multi-Layer Security
- Ecommerce Security Plugins
- Backup all Your Data all the time
- Keep updating
- Go for a secure Ecommerce Platform
- Train your staff about security
- Keep looking for Malicious Activity
- Educate your clients about these attacks and ask them to be careful
The only way to make sure you and your business are secure is to get a comprehensive knowledge of potential security issues in eCommerce and how to stay on top of security issues that we all face and to train yourself and your staff. The way to keep your business secure and safe against loss is to invest in a secure system.