5 Ways To Safeguard Your eCommerce Store From Fraud

It is easy to set up an eCommerce website these days. But protecting it from online frauds, hacks, and security threats is not. As small online retailers would know, one major security breach or someone stealing your business name, products and data could possibly be the end of your business. This is why we have rounded up five key tips that can help online retailers secure their website from hacking or fraud.

1. Choose a trusted eCommerce platform: The best eCommerce platforms are those that are built on top of an advanced object oriented programming language, for example Magento. Magento ebusiness website development provides substantially a higher level of security and reliability by virtually restricting the third-parties to access your administration panel. This means it secures your data from public facing servers that are more prone to security attacks. In addition, it also enables adding extra security layers and offers inbuilt security protocols.

2. Protect your website with Secure Socket Layer: Secure Socket Layer (SSL) is a standard security technology to encrypt the exchange of information between a web server and a browser. The encryption ensures the protection and integrity of all the data exchanged between the web server and browsers. SSL is vital to eCommerce transactions as it secures sensitive personal and financial information throughout the purchase process. It helps your customers to instill trust in your web store, providing them with additional peace of mind.

3. Ensure your website is PCI DSS Compliant: If your business requires processing online payments, you need to ensure your website is PCI DSS compliant. Fortunately, many payment integration service providers like PayPal, Stripe, and Braintree, encrypt and store the credit card information so that none of the critical payment information is stored on your website.

4. Keep your website updated: A website that isn’t updated with security patches is vulnerable to hacks and data thefts. Unpatched applications and extensions make your website an easy target for cyber criminals. Hackers often make use of automated web crawlers to identify websites with unpatched applications and extensions. Updating your website and backend with latest security patches is the simplest way to prevent an attack. You can even use a firewall in front of your online store to protect against vulnerabilities that are identified.

5. Require strong passwords: One way hackers can easily enter your website is by using a brute force hack which generally uses a combination of letters and numbers to log into your website, hoping to crack your password and get lucky. The randomized, long passwords make this a lot less likely. So, ask your employees to use strong passwords using a combination of upper- and lowercase letters, symbols, and numbers. Even online complex password generators can be used. Moreover, have all your employees change the passwords every three to six months, if not more often.

Final Thoughts
Stay vigilant with security and building an eCommerce site that prioritizes the protection of end-user data and provides a strong defense against security hacks and fraud attempts. eCommerce businesses are immune to myriad security breaches occurring globally on daily basis. So, safeguard your business with the above-mentioned tips and give shoppers the confidence to continue shopping on your website.

What are the other ways an online retailer can ensure protection against fraud? Share your views with us in the comments below.