Every day, world news is full of fraudulent transactions, confidential data leaks, etc. This makes any average consumer wary of making digital payments on e-commerce platforms. According to a study by signify, 62% of the customers are NOT confident about the security of their data. This certainly is not the way you would want to begin your relationship with your customer. You must invest to secure your e-commerce business platform. Instill confidence in your customers by giving them a complete digitally secured platform by Installing SSL Certificate. Be aware and be updated on the constant threats that your e-commerce businesses are exposed to, daily. Learn how to deal with it and be proactive in your approach to strategize and implement the solutions. Here are the major security threats for 2020 that you mustn’t ignore.
Fraudulent TransactionsWith so much of business transactions taking place online, financial fraud is the most common and most detrimental security threat that e-commerce businesses face today. Online financial fraud is fundamentally any kind of illegal online financial transaction done by a hacker. There are mainly two types of payment frauds that are seen to be most widespread. One is, making unauthorized payments using details of stolen credit cards and the other one is when users are exposed to insecure systems on which transactions are made. Transactions on these systems are either interrupted or redirected. Although bank support is fully provided to consumers and even payments can be canceled through their apps. But this does not fully protect you from the frauds. Even many website security markers are hoaxed and it becomes very difficult for the web users to know if the website is secure or not.
Solutions: PCI DSS Compliance
Password Theft
SOLUTIONS: Stronger Password:
Distributed denial of service attack:
SOLUTION: Active protection
Phishing:
Solution: Spreading awareness
Some other e-commerce threats to look out for are malware and spams. Bad bots could create serious problems as technologies used against e-commerce businesses keep on evolving. With the increase in threats, it is important to stay one step ahead than the cybercriminals, so be sure to invest in a cheap wildcard SSL, update software, and reduce weak spots prone to attacks.
