There’s no doubt that there’s a long list of perks that come with being a business owner. That said, it also comes with certain risks. The truth is, businesses all around the globe, no matter how big or small, are often targeted by criminals.
And this doesn’t only apply to brick-and-mortar businesses. E-commerce businesses get targeted just as often as the traditional ones, and they make for particularly attractive targets for cybercriminals because of the sensitive data.
Not only do data breaches lead to significant financial losses, but they often force companies to close their businesses. This is especially true in the case of smaller businesses which often have multiple security weaknesses.
If you think your company could use some improvement in the cybersecurity department, here are five ways to protect your e-commerce business and avoid becoming the target of cyber attackers.
AVOID STORING SENSITIVE USER DATA
Protecting your e-commerce business from cyberattacks starts with understanding cybersecurity risks and safeguarding your business and your clients. Risks such as identity theft and security breaches are particularly common in cases where businesses process payments on their websites. For optimal security, it’s best to avoid storing sensitive user data on your website.
If you’re taking sensitive data (e.g. banking information), make sure to introduce HTTPS to help maximize customer safety. You should also consider relying on a third-party payment processor if you’re storing sensitive user data. By letting the third-party payment system handle the transactions, you’ll create a safer environment for your customers. This will also help your company come across as trustworthy.
MANAGE CYBER RISKS BY LAYERING YOUR SECURITY
Cybercriminals don’t discriminate based on the size of the company. Even if you’re a franchisee who’s running a smaller operation, cyberattacks can do some serious damage to your business. This is because there’s a good chance that there may be certain security breach points on a small business website.
Whether you’re new to the industry or looking to sell your franchise business, it’s important that you take steps to make your website and all systems more secure. From firewalls and multi-factor authentication security systems to CAPTCHA and complex passwords, layering your security will help you manage cyber risks more easily and avoid becoming the target of cybercriminals.
Of course, it doesn’t hurt to take a look at what other businesses are doing. Feel free to talk to them to see which cybersecurity measures they have in place.
EDUCATE YOUR EMPLOYEES THROUGH EFFECTIVE SECURITY AWARENESS TRAINING
Maintaining high levels of cybersecurity within a company is best achieved through collective effort. Rather than relying solely on the IT department, companies should aim to educate all employees on the best cybersecurity practices. This could mean offering data security training to your employees along with data breach tutorials. Some companies may also rely on mock sessions, role-playing, and simulation games to make their security awareness training more rewarding.
With a strong cybersecurity culture in place, companies can reduce their exposure to common security threats such as phishing. This often occurs when employees open an email that exposes sensitive information to the hacker, thus allowing them to steal user data.
DO YOU BEST TO ELIMINATE MOBILE SECURITY THREATS
Ensuring optimal protection against data breaches is also a matter of addressing common mobile security threats. The truth is, we’re more digitally connected than ever, and employees often rely on mobile devices to access systems remotely. This, however, could pose a security threat to many organizations.
As a result, adding layers to mobile software security is among the key cybersecurity trends among companies these days. Some businesses may also decide to restrict mobile device usage and access to enterprise applications.
Either way, taking the steps to protect your company from mobile security threats such as social engineering attacks, data leakage, and spyware will go a long way in preventing your private corporate data from being exposed. Therefore, make sure to learn the most common risks and address them accordingly.
MAKE IT A HABIT TO UPDATE YOUR WEBSITE REGULARLY
Other than taking advantage of the best cybersecurity technologies available, it is also important that you constantly update your website. The truth is, the cybersecurity industry is constantly undergoing changes. As a result, business security teams need to constantly innovate in order to protect the company’s data and prevent hackers from exploiting its potential vulnerabilities.
This is particularly true for companies that make use of WordPress. Outdated WordPress plugins increase the likelihood of security issues, turning the website into an attractive target for hackers. So instead of ignoring those update notifications, make it a habit to update your website on a regular basis.
In a time when cybercrime is rising, learning the most common types of cyberattacks is a great starting point.
But to truly ensure your company’s well-being, it’s important that you take some tried-and-true cybersecurity measures. In doing so, you can detect, prevent, or disrupt any criminal activity before or as it is taking place, thus lowering your exposure to cybercrime and effectively safeguarding your business.