The E-Commerce Cybercrimes Rates Are On the Rise
The rapid development of e-commerce around the world has prompted the mass use of electronic payments. People are increasingly using digital cache rather than regular money because it is much more convenient. However, apart from convenience, it also leads to big problems. Criminal elements are quickly adapting to market conditions and finding a lot of ways to hack or steal user funds.
Not only is the number of cyber hacks growing insanely, but also the crimes themselves are becoming more elaborate and intricate so that it would be difficult to take any countermeasures.
The favorite target of cybercriminals is e-commerce websites and their active users.
Things The E-Commerce Industry Should Be Wary Of
Cybercriminals can target not just online shoppers’ money, but also their data and credit card data.
The Dark Web is a place to be wary of because that’s where data is sold. It happens completely anonymously, so it is almost impossible to trace and punish the criminals.
Masters who rarely update their basic CMS also become a subject of danger, because they expose the websites built on platforms such as Magento or Joomla to the risk of hacking. Such online stores are simply a tidbit for crooks.
An irresponsible approach to security is also one of the reasons why e-commerce sites are actively hacked. Of course, small businesses often do not even set a budget for cybersecurity, but it cannot be neglected. Find reliable app developers who can help build a security system, as well as provide quality advice on how to maintain the level on your own.
A ruined business reputation is among the dangers of cyber hacks as well. Retail customers will never go back to a website where they have been robbed. Affiliates won’t be willing to do business with sites that can’t be held accountable for business security, either. In addition to the fact that a hacked site may lose existing customers, it will be difficult to attract new ones with a bad reputation.
A damaged SEO reputation will cause the website to lose its search engine ranking, and even worse, it could fall under sanctions or elimination.
In general, it is obvious that the funds that a business can allocate to ensure its cybersecurity in any scenario will be much less than dealing with the consequences of hacking and restoration of the lost image.
Techniques for Combating Cybercrime in E-Commerce
First and foremost, both retailers and customers need to be on the same side when it comes to fighting cybercrime and keeping their data safe.
Contributes to Cybersecurity That a Customer Can Make
- Email and newsletters are the weakest links in the security system. Here you need complex passwords, which in addition will not be repeated in other accounts.
- Check the links you receive with different offerings via mail. Before you click through, make sure it is not different in any way from what the e-commerce store might send you. Any change should raise suspicion.
- Do not use public wi-fi when paying with cards, scammers can set up their network which will leak all your data into the wrong hands.
- Do not give your card details if the system is not encrypted.
- Pay attention to the protocol, all secure pages have HTTPS encryption.
Essential Cybersecurity Requirements for E-commerce Site Owners
- Place your site only on verified platforms with a high level of trust.
- Constantly update your site. Keeping plugins and applications updated is the easiest way to prevent cybercriminals from taking over the weak links of your site.
- Use firewall, WAP, IPS. Protect customer data from unauthorized access by filtering traffic.
- Ensure secure communications with external providers using SSL, then the site can use the HTTPS protocol, which is Google’s security protocol for encrypting data entered by users. If you were previously using this protocol only for payment pages, we advise you to migrate all your website pages to it.
- Use multi-factor authentication. It protects not only customer data but also employee data. Compromised, stolen and even weak passwords will not cause a catastrophe if the login also requires a security code to be sent to a device that only the authorized user has access to.
- Perform a backup of the data. If the site is damaged, you can restore it quickly. The data that is on the site is primarily a responsibility. You can set the automatic backup, and periodically perform the edits manually.
Unfortunately, statistics show that many companies neglect security methods, either because of ignorance in this matter, or due to a limited budget, or simply procrastinate. However, one mistake may cost them a whole business. It is necessary to act from now on. If a company does not have someone in charge of cybersecurity, it is better to hire an expert firm that can at least provide guidance and at most implement cybersecurity in practice.
About the author:
Kyle McDermott is a web developer, blogger, blockchain enthusiast, and business analyst. He loves to write about new technologies, business news, and sports events. Kyle is also a proofreader at Computools. Follow him on Twitter.