The most common security threats are phishing attacks, money thefts, data misuse, hacking, credit card frauds and unprotected services. Inaccurate management-One of the main reason to e-commerce threats is poor management. When security is not up to the mark it poses a very dangerous threat to the networks and systems
Most ecommerce platforms have an arsenal of built-in security features dedicated to mitigating electronic commerce threats. Here are some of the ways online merchants can bolster safer credit card processing and data security.
The best way to keep your ecommerce business safe from cybercriminal activity is to layer your security. Make sure your platform host has protections in place on an application-level like contact forms, search tools and login fields.
Ensure you compare hosting providers to ensure yours monitors all transactions for suspicious activity. Set up an alert system to flag potential threats like a billing address and shipping address not matching, or multiple orders being placed by a single user with different credit cards.
Your ecommerce platform should issue frequent updates and PCI scans to field for any potential threats that may be targeting your online store. Automatic updates should also be a standard practice in preventing new vulnerabilities to viruses and malware.
To facilitate safer credit card processing, use an Address Verification System to compare the billing address a customer has entered to what the credit card issuer has on file. An AVS will automatically separate legitimate transactions from fraudulent attempts.
Card Verification Value is the three- or four-digit code on the back of a credit card. Under PCI standards, retailers are not allowed to store this number, even if they record customers’ names, addresses and credit card numbers for future transactions. Additionally, many cybercriminals have a credit card number, but not the physical card. A CVV requirement makes it much more difficult for a fraudulent transaction to be processed.
Hackers use algorithms that generate customers’ passwords. These programs run through all the possible combinations for a four-digit password, with the ability to find the right alpha-numeric password quickly. Longer passwords with at least one special character and a capitalization are more secure. If implementing stricter password standards, let customers know it’s for their protection.
SSL certificates authenticate the identity of your business and secure the data in transit during checkout. This keeps your company and your customers protected from having financial or important information compromised by hackers.
In order to be PCI compliant, and ecommerce platform must adhere to a strict set of policies and procedures that guarantee the security of payment via credit or debit card. Some of those measures include encryption, anti-malware software, extensive monitoring, risk analysis and more.
Most websites simply don’t have the bandwidth to protect against a DoS/DDoS attack, however, the ecommerce platform you choose should have the security in place to counter this threat.
