The eCommerce boom has led to a sharp rise in cybercrimes, which is likely to cost close to 6 Trillion US Dollars by the end of 2021. With most large businesses beefing up their security measures, all eyes are currently set on small e-businesses. This is mainly due to low-security protocols, which makes it easier for cybercriminals to gain unauthorized access and steal sensitive customer data such as credit card and bank account details. So, if you run an online business and are concerned about your security, then we’ve got it all covered up. Below listed are some time-tested measures that can strengthen your defenses and secure your online transactions.

Start with a Wildcard SSL Certificate

From the very moment you launch your website, it becomes vulnerable to cyberattacks. Therefore, it is inevitable for e-businesses to start on the right foot. So, remember to invest in the right technologies and the most important one is your SSL certificate. Depending on your web architecture, you must make the right choice.

If your business operates in various countries and you make use of multiple domains, then consider investing in a wildcard SAN certificate. On the other hand, if your website has a single domain but multiple subdomains, then a Wildcard SSL Certificate would be your best bet. Unless you make the right choice, a portion of your website could remain vulnerable. Also, by making the right choice, you can bring down your overall SSL certificate costs.

Choose a Secure CMS

WordPress is currently one of the most popular, as well as one of the most vulnerable content management systems (CMS). According to reports, 90 percent of all websites are hacked run on WordPress, and that’s a good reason to avoid it. The main reason for this large percentage is the unregulated WordPress repository that consists of potentially dangerous plugins and themes. So, we recommend that you choose a more reliable platform with well-regulated libraries such as Wix, Shopify, and Weebly.

Monitor Suspicious Activity

Many eCommerce companies have landed in trouble due to multiple orders being placed from the same IP with different cards. This is what cybercriminals do once they steal credit card info. Most countries have money laundering regulations in place that require reporting of suspicious activities and not doing so can lead to serious legal consequences. An easy way to fix this is by making use of techniques that help confirm whether the user is indeed the card owner. You can do this by using the address verification system for all online transactions. Another way to do this is to use two-factor Authentication because the cybercriminal may not have access to the cardholder’s e-mail ID or mobile phone.

Set Strong Password Rules

Brute force attacks are one of the most common forms of cyberattack, and unless your customers set strong passwords, simple software may be able to crack it and steal customer data. You can minimize this risk by setting strong password rules and making it mandatory for your customers to use highly secure passwords.

Use Firewall and Antivirus

Even though Firewall and Antivirus are the two most common security essentials, there are so many websites that do not have them installed. Using a reliable Firewall can help prevent several cyberattacks such as DDoS attacks, SQL injections, and zero-day exploits. While a secure antivirus can help in the detection and removal of malware. An update in the antivirus program keeps you secure against rising different types of malware and virus.

Regular Penetration Tests

Cybercriminals look for vulnerabilities and then break into a secure network by creating a backdoor. However, you can significantly minimize this possibility by running regular penetrations tests through a reliable cybersecurity firm. A penetration test involves a scheduled cyberattack, which is led by a team of highly trained Ethical Hackers. These Ethical Hackers try to hack your website just the way a regular Hacker would. The goal is to identify the vulnerabilities and to recommend suitable security measures. This eliminates all potential vulnerabilities that cybercriminals can exploit to gain unauthorized access. However, you must get this done at regular intervals as vulnerabilities may develop over time.

Conclusion

Financial cybercrimes are the most widespread evil that can destroy any online business. The only way to minimize its possibility is by reducing the attack surface. Therefore, we have recommended specific security measures such as wildcard SSL certificates, Secure CMS, Firewall, Antivirus, and other security protocols.

Once you have set the necessary security protocols, you need to check its effectiveness at regular intervals by scheduling Penetration tests. Finally, as a responsible online business, you also need to send out newsletters and publish blogs on cybersecurity measures. This helps disseminate useful information to your customers, which keeps both client and server ends of the network secure.