The eCommerce industry is growing exponentially. Only in the last decade it has grown from $1 trillion to around $5.7 trillion.
However, eCommerce websites have become gold mines for scammers, hackers, and other malicious criminals that are causing havoc in online trading through fraud, phishing, and other types of attacks.
So, if you’re pondering the question, “How do I add security to my eCommerce website?” you’re at the right place.
In this article, we share six valuable tips you can use to boost your eCommerce site’s security and prevent cyber attacks that could disrupt your operations.
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eCommerce Cybersecurity Statistics
The following are a few interesting statistics related to cybersecurity threats in the eCommerce industry:
- Nearly 32% of eCommerce security threats and attacks are successful.
- Around 30% of eCommerce website traffic has malicious intentions.
- In 2021, eCommerce security breaches and payment frauds accounted for nearly $20 billion in losses.
- Almost 57% of eCommerce cyberattacks are powered by AI and other sophisticated technologies.
- Phishing, carding, ransomware, credit card fraud, and card scraping were the most common types of attacks in the eCommerce industry in 2021.
The Most Common Types of eCommerce Cybersecurity Threats
One of the key reasons why the eCommerce industry remains the most vulnerable industry is the vast range of options hackers and scammers can employ to access critical data and sensitive information.
The following are some of the most common threats you should know about:
- Credit card fraud;
- Fake return/refund fraud;
- SQL injection;
- DoS & DDoS attacks;
- Cross-site scripting;
- Trojan horse;
- Account takeover;
- Man in the middle attacks;
- Card scraping;
- eSkimming, etc.
6 Valuable Tips to Add More Security to Your eCommerce Site
- Opt for a Secure eCommerce Platform
Today, you can find a wide range of eCommerce platforms to build and host your site. However, choosing the best one falls to several factors, including built-in security measures.
No matter which solution you opt for, you need to ensure it comes with the most essential features, including (but not limited to):
- SSL protection;
- Secure hosting;
- Real-time threat notifications;
- Multi-factor authentication, etc.
- Keep Your eCommerce Site Up-to-Date
Hackers are actively looking for vulnerabilities in your site they can exploit, especially if you fail to keep it updated. Hence, one of the best ways to secure your site is to install new updates as soon as they’re available. Moreover, you should also install security patches proactively to close as many gaps in your system as possible.
- Back-Up Your Data Regularly
In many cases, data theft via hacks is inevitable. However, this doesn’t mean you can’t minimize or reduce the damage done. By backing up your website data, you can protect it from being stolen, deleted, or held for ransom.
Most savvy eCommerce business owners enable automatic backups and leverage different storage options, such as third-party cloud solutions, on-premises servers, and/or external drives.
- Use a Virtual Private Network
One of the best ways to add more security to your eCommerce site is using virtual private networks (VPNs). This solution allows users to hide their IP address and encrypt their network connection. Hence, they can exchange data and carry out financial transactions without fear of hackers or scammers peaking into their systems.
However, you should learn more about VPN before opting for one. There are hundreds of options you can choose from SurfShark is one of them. Thus, doing your research will help you opt for the best one for your security needs.
- Enable Two-Factor Authentication
Two-factor authentication (2FA) is one of the simplest security enhancements you can employ on your eCommerce website and add an extra layer of protection. So, even if hackers manage to get access to your credentials via phishing, social engineering, or other tactics, they still won’t get access to your account.
2FA sends typically sends a code via email and/or text to users when they attempt to login into their accounts. Some platforms offer other authentication mechanisms, such as fingerprint verification or security keys.
- Install Web Application Firewalls
Finally, our last tip to add more security to your eCommerce site is to procure and install a website application firewall (WAF). Doing so will protect it from SQL injection or XSS attacks and credential bombing attacks.
The most powerful WAFs in the market can also help prevent DoS or DDoS attacks. However, just as with VPNs, there are many options in the market you can opt for. So, make sure you do your homework and choose one that meets your specific needs.
Nowadays, more and more eCommerce stores and sites are flooding the market with more powerful features than ever.
However, as eCommerce platforms become more sophisticated, so do security threats. Hence, you need to keep an eye on the latest cybersecurity tools and stay on top of existing and emerging threats to prevent or combat them. Follow our advice and stay cyber-safe!