e-commerce security

sell and shop in safety protecting your business from cybercrime since 2002

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what is ecommerce security?

The internet has changed how we do business. In fact, it's changed everything about our lives. Online shopping is becoming so commonplace that it's no longer an option but a necessity for most companies to provide an online storefront. Unfortunately, while technology has transformed many aspects of life, one thing hasn't changed – cybercrime. Increasingly, retail businesses are becoming targets for cyber attacks. As a result, E-Commerce Security has become necessary to protect SMBs.

In fact, according to the 2018 Global Risk Report published by KPMG, nearly half (45%) of retailers surveyed say that cybersecurity incidents cost them money. This is up from just 25% in 2017. So what does this mean for your business? Well, it's simple – if you don't protect yourself against cyberattacks, you could lose customers, revenue, and your entire business.

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ecommerce security: Importance, issues & protection measures

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eCommerce is one of the fastest growing industries in the world today. But it is also one of the most vulnerable. In fact, according to recent research by IBM X-Force, the number of cyberattacks targeting retailers grew by over 50% in 2018 alone. This growth is due, in part, to the increasing sophistication of hackers and the ease with which they can exploit vulnerabilities.

One of the biggest issues facing eCommerce businesses is the lack of protection measures. Many websites have been hacked because there weren't any security measures in place at all. For example, some sites use outdated software that is easily exploitable because it isn't updated often. Others fail to implement basic security measures such as strong passwords and two-factor authentication.

There are several ways to help prevent eCommerce breaches. The first step is to make sure that your website is built using modern web technologies that are frequently updated and have no access to those trying to intercept your customer's information. You should also ensure that your site uses SSL encryption when making payments. It's important to note that not every browser supports SSL encryption, so you may need to check with your hosting provider to see whether they support it.

Finally, consider implementing multi-factor authentication on your login pages. This will require users to enter both a username and password as well as another piece of information (often sent to a phone or other authenticator) to verify their identity. Even with these measures taken, hackers can still breach your network - iTecs can prevent these intrusions and stop information leaks before they start.

common ecommerce security issues

The following are common eCommerce Security issues that malicious actors can exploit:

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weak passwords

Companies can reduce overall ITWeak passwords are one of the easiest things to hack into. Hackers know that people tend to reuse passwords across multiple accounts. They also know that most people choose easy-to-guess passwords like "123456" or "password". To combat this issue, you should require your users to make complex passwords with special characters, numbers, and an adequate length when creating an account on your site. infrastructure expenses by replacing costly routers with a single software-based service.

unencrypted data

If you store credit card numbers or other sensitive data online, you must encrypt it. Encryption is an essential component of any eCommerce solution. iTecs can help you ensure your data is properly encrypted and secure.

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poorly secured
payment systems

You're leaving yourself open to attack if your eCommerce platform doesn't offer PCI compliance. PCI stands for Payment Card Industry, a set of standards designed to protect merchants against fraud. These standards include requirements around how transactions are processed, what kind of encryption is used, and even how customer data is stored. Without proper compliance, you could lose money if someone hacks your system and steals your customers' personal information. iTecs is versed in PCI compliance and can keep your company up to the standards required.

insecure software

Software updates are critical to keeping your eCommerce site safe. Unfortunately, many internal IT Departments don't have time to update their systems often, which makes it easier for attackers to exploit vulnerabilities. iTecs can ensure that your internal systems are updated with secure patch management.

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lack of multi-factor authentication

Multi-factor authentication is a great way to keep your customers' information secure. It requires users to provide two pieces of information to log in to your site. For example, they might use a unique PIN and a text message sent to their mobile device. iTecs can help you implement MFA among your systems, increasing your security posture.

WEAK PASSWORDS

Weak passwords are one of the easiest things to hack into. Hackers know that people tend to reuse passwords across multiple accounts. They also know that most people choose easy-to-guess passwords like "123456" or "password". To combat this issue, you should require your users to make complex passwords with special characters, numbers, and an adequate length when creating an account on your site.

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UNENCRYPTED DATA

If you store credit card numbers or other sensitive data online, you must encrypt it. Encryption is an essential component of any eCommerce solution. iTecs can help you ensure your data is properly encrypted and secure.

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POORLY SECURED PAYMENT SYSTEMS

You're leaving yourself open to attack if your eCommerce platform doesn't offer PCI compliance. PCI stands for Payment Card Industry, a set of standards designed to protect merchants against fraud. These standards include requirements around how transactions are processed, what kind of encryption is used, and even how customer data is stored. Without proper compliance, you could lose money if someone hacks your system and steals your customers' personal information. iTecs is versed in PCI compliance and can keep your company up to the standards required.

a poorly secured payment system

INSECURE SOFTWARE

Software updates are critical to keeping your eCommerce site safe. Unfortunately, many internal IT Departments don't have time to update their systems often, which makes it easier for attackers to exploit vulnerabilities. iTecs can ensure that your internal systems are updated with secure patch management.

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LACK OF MULTI-FACTOR AUTHENTICATION

Multi-factor authentication is a great way to keep your customers' information secure. It requires users to provide two pieces of information to log in to your site. For example, they might use a unique PIN and a text message sent to their mobile device. iTecs can help you implement MFA among your systems, increasing your security posture.

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WHY YOU CAN'T AFFORD TO OVERLOOK E-COMMERCE SECURITY

As the world increasingly relies on digital technologies, cyber threats pose significant risks to businesses and individuals. These risks include intellectual property theft, loss of customer confidence, brand reputation damage, financial losses due to fraud, and even physical harm.

In addition, many companies use online platforms to conduct business transactions, including purchasing goods and services, paying bills, making payments, and conducting banking activities.

So while protecting your clients is important, you should be aware that your organization's internal transactions are also at risk. iTecs can prevent cyber attacks from hurting your business. Contact an iTecs Professional today for a free quote!

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