Security for ecommerce: key threats and how to prevent them

Successful cyber attacks bring huge irreparable losses to online retailers, damage their reputation, and undermine consumers’ trust. Therefore, companies should make ecommerce security their highest priority.
What is ecommerce security?
Ecommerce security is a set of guidelines for protecting ecommerce stores from cyber attacks and ensuring safe online transactions. Teaming up with ecommerce development companies, retailers can implement various security measures to protect their stores as well as customers and their personal data.
We explore the fundamental principles of ecommerce security, key cyber threats retailers face today, and guidelines for protecting online stores.

Ecommerce security statistics

91%

of organizations reported at least one cyber incident over a year

Deloitte

98%

of all cyber attacks in retail have financial motives

Verizon

$41

Billion

of organizations reported at least one cyber incident over a year

Statista
Frame 322
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Top 7 security threats for ecommerce

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Using malicious software, or malware, hackers can harm or exploit your ecommerce website by scraping information from it, altering its code, gaining backdoor access to it, or spying on the victim’s online activity. The most common malware types include Trojan horses, adware, ransomware, and rootkits.
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Ecommerce security staples

Below we enumerate basic mechanisms that every retailer should strive to incorporate into their cyber security strategy.

A firewall

to filter website traffic and give access to trusted networks

HTTPS

to safely send information between a web browser and website

Anti-malware and anti-virus software

to detect and block Trojan horses, worms, and code tampering

Strong, unique passwords

to prevent unauthorized access to customer accounts

Backup data

to restore it in case of a failure or loss

Regular updates

to fix emerging vulnerabilities and prevent hackers from exploiting them

A secure payment gateway

to minimize credit card transactions risks

Role-based access

to prevent accidental modification of site configurations

Additional security plugins

to enhance your store’s security mechanisms

5 best practices for ecommerce security

With such diverse security risks, retailers need to take a comprehensive set of ecommerce security measures to protect their online store and customers from cyber attacks.

According to Cisco’s 2022 Security Outcomes Report Vol. 3, MFA is the top initiative for improving security resilience in organizations.

So, to ensure that only authorized users can access ecommerce resources, retailers should:

1. Introduce MFA to protect their back-office accounts from hijacking and unauthorized access.

2. Offer front-office users the option to authenticate against their social accounts (Google, Facebook, etc.), so they can leverage existing MFA they already trust.

According to Cisco’s 2022 Security Outcomes Report Vol. 3, MFA is the top initiative for improving security resilience in organizations.

So, to ensure that only authorized users can access ecommerce resources, retailers should:

1. Introduce MFA to protect their back-office accounts from hijacking and unauthorized access.

2. Offer front-office users the option to authenticate against their social accounts (Google, Facebook, etc.), so they can leverage existing MFA they already trust.

According to Cisco’s 2022 Security Outcomes Report Vol. 3, MFA is the top initiative for improving security resilience in organizations.

So, to ensure that only authorized users can access ecommerce resources, retailers should:

1. Introduce MFA to protect their back-office accounts from hijacking and unauthorized access.

2. Offer front-office users the option to authenticate against their social accounts (Google, Facebook, etc.), so they can leverage existing MFA they already trust.

According to Cisco’s 2022 Security Outcomes Report Vol. 3, MFA is the top initiative for improving security resilience in organizations.

So, to ensure that only authorized users can access ecommerce resources, retailers should:

1. Introduce MFA to protect their back-office accounts from hijacking and unauthorized access.

2. Offer front-office users the option to authenticate against their social accounts (Google, Facebook, etc.), so they can leverage existing MFA they already trust.

According to Cisco’s 2022 Security Outcomes Report Vol. 3, MFA is the top initiative for improving security resilience in organizations.

So, to ensure that only authorized users can access ecommerce resources, retailers should:

1. Introduce MFA to protect their back-office accounts from hijacking and unauthorized access.

2. Offer front-office users the option to authenticate against their social accounts (Google, Facebook, etc.), so they can leverage existing MFA they already trust.

Why security in ecommerce is important

Group 39830

Strengthen your ecommerce website security

The rise of ecommerce inevitably leads to increased cyber attacks on online stores. That is why the security of ecommerce websites will continue to be the priority of businesses that want to prevent data breaches, financial losses, and compromised brand reputation. Unfortunately, technological advancements have opened up more ecommerce attack opportunities to cyber criminals. So in response, retailers should proactively ensure multi-layer security, implementing several technologies to combat all possible cyber threats. If you’re looking for an ecommerce services provider to help you achieve holistic security for your ecommerce website, you can contact Itransition’s experts to develop a robust ecommerce security solution.
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FAQs about ecommerce security

Security focuses on building effective systems and controls to protect an ecommerce company’s assets against cyber threats. Compliance deals with the rules, frameworks, and best practices for reducing risks across the entire ecommerce industry.
Security focuses on building effective systems and controls to protect an ecommerce company’s assets against cyber threats. Compliance deals with the rules, frameworks, and best practices for reducing risks across the entire ecommerce industry.
Security focuses on building effective systems and controls to protect an ecommerce company’s assets against cyber threats. Compliance deals with the rules, frameworks, and best practices for reducing risks across the entire ecommerce industry.
Security focuses on building effective systems and controls to protect an ecommerce company’s assets against cyber threats. Compliance deals with the rules, frameworks, and best practices for reducing risks across the entire ecommerce industry.
Security focuses on building effective systems and controls to protect an ecommerce company’s assets against cyber threats. Compliance deals with the rules, frameworks, and best practices for reducing risks across the entire ecommerce industry.

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