INTRODUCTION-

 E-commerce security threats are causing havoc in online trading. The industry experiences up to 32.4% of all successful threats annually. Hackers usually target e-commerce store admins, users, and employees using a myriad of malicious techniques. Are you experiencing credit card frauds, scamming, phishing, bad bots, DDoS attacks, or any other security threat?

   

There are just so many e-commerce frauds that are plaguing the industry currently. In this blog post, we have tried to list down the common threats your e-commerce face and how to prevent them.

TOP 10 E-COMMERCE THREATS-

1- FINANCIAL FRAUDS-

Ever since the first online businesses entered the world of the internet, financial fraudsters have been giving businesses a headache. There are various kinds of financial frauds prevalent in the e-commerce industry, but we are going to discuss the two most common of them.

      a. Credit Card Fraud-

It happens when a cybercriminal uses stolen credit card data to buy products on your e-commerce store. Usually, in such cases, the shipping and billing addresses vary. You can detect and curb such activities on your store by installing an AVS – Address Verification System.

Another form of credit card fraud is when the fraudster steals your personal details and identity to enable them to get a new credit card.

      b. Fake Return & Refund Fraud-

The bad players perform unauthorized transactions and clear the trail, causing businesses great losses. Some hackers also engage in refund frauds, where they file fake requests for returns.

2-PHISHING-

Several e-commerce shops have received reports of their customers receiving messages or emails from hackers masquerading to be the legitimate store owners. Such fraudsters present fake copies of your website pages or another reputable website to trick the users into believing them. For example, see this image below. A seemingly harmless and authentic email from PayPal asking to provide details.

THE EI TEST  OF 2017-is another good example of such malicious campaigns. If the clients fall into the trap and give them their sensitive personal information like login credentials, the hackers swiftly go ahead and con them.

3- SPAMMING-

Some bad players can send infected links via email or social media inboxes. They can also leave these links in their comments or messages on blog posts and contact forms. Once you click on such links, they will direct you to their spam websites, where you may end up being a victim.

4- Malware-

 Hackers may design a malicious software and install on your IT and computer systems without your knowledge. These malicious programs include spyware, viruses, trojan, and ransomware.

The systems of your customers, admins, and other users might have Trojan Horses downloaded on them. These programs can easily swipe any sensitive data that might be present on the infected systems and may also infect your website.

5. Bots-

Some attackers develop special bots that can scrape your website to get information about inventory and prices. Such hackers, usually your competitors, can then use the data to lower or modify the prices in their websites in an attempt to lower your sales and revenue.

E-commerce security solutions that can ease your life

1. HTTPS and SSL certificates

HTTPS protocols not only keep your users’ sensitive data secure but also boost your website rankings on Google search page. They do so by securing data transfer between the servers and the users’ devices. Therefore, they prevent any interception.

Do you know that some browsers will block visitors’ access to your website if such protocols are not in place? You should also have an updated SSL certificate from your host.

2. Anti-malware and Anti-virus software

An Anti-Malware is a software program that detects, removes, and prevents infectious software (malware) from infecting the computer and IT systems. Since malware is the umbrella term for all kinds of infections including worms, viruses, Trojans, etc getting an efficient Anti-Malware would do the trick.

On the other hand, Anti-Virus is a software that was meant to keep viruses at bay. Although a lot of Anti-virus software evolved to prevent infection from other malware as well. Securing your PC and other complementary systems with an Anti-Virus keeps a check on these infections.

3. Securing the Admin Panel and Server

Always use complex passwords that are difficult to figure
out, and make it a habit of changing them frequently. It is also good to restrict user access and define user roles. Every user should perform only up to their roles on the admin panel. Furthermore, make the panel to send you notifications whenever a foreign IP tries to access it.

4. Securing Payment Gateway

PAYMET PROCESS

Avoid storing the credit card information of your clients on your database. Instead, let a third party such as PayPal and Stripe handle the payment transactions away from your website. This ensures better safety for your customers’ personal and financial data. Did you know storing credit card data is also a requirement for getting PCI-DSS compliant?

5-Additional security implementations

• Always scan your websites and other online resources for malwareBack up your data.
•  Most e-commerce stores also use multi-layer security to boost their data protection.
• Update your systems frequently and employ effective e-commerce security plugins.
• Lastly, get a dedicated security platform that is secure from frequent cyber-attacks. 

Conclusion-

Cyber-security is very important if you are to succeed online. Hackers are getting better at their games, which means you need a dedicated team that will stay updated with security issues and provides around-the-clock protection to your websites.