The internet is full of good people who just want to do business with your e-commerce store – and that's great! However, the internet is also full of unsavory people looking to take advantage of online shops just like yours.
It has been predicted that between 2016 and 2020, e-commerce fraud loss is going to be secure online small business. Learning how to beef up your e-commerce store security can save you money, increase customer satisfaction, and help you grow as a reputable online business.
1. Know the warning signs of fraud.
The first and perhaps most important tip is making sure you know the warning signs of fraud before and as it happens. Being aware of fraud requires you to be vigilant and constantly monitor data going to and leaving your website. You have to not only protect your business against cyberattacks but ensure that people are not using stolen credit cards on your website for fraudulent behavior.
Once you recognize the signs of fraud, you'll immediately begin to pick up on suspicious behavior when sifting through data. Here are some common signs that someone may be trying to use your site for fraudulent or otherwise shady behavior:
- Multiple payment methods coming in from the same IP address. This can be a sign that someone is using stolen credit cards to purchase products from your website. Two or three payment methods could be the result of multiple people in the same household.
- Shipping address in one country while the billing address is in another country. This is especially true if the shipping address is in the U.S. and the billing address is a place known for scammers.
- Large quantities of products purchased from your website – especially if it's a new customer. If someone randomly signs up for your website and makes thousands of dollars' worth of purchases right away, it's a sign that fraud could be afoot.
2. Track and educate employees on passwords.
When a hacker gets into your website, chances are it happened because they were able to crack the password of one of your employees. How do they do this? Typically, they use bots to generate letter/number combinations in order to crack into the account. You can stop this from happening by making sure you are always making complicated passwords while educating your employees on the importance of a strong password.
Most strong passwords have numbers, letters – both capital and lowercase – and a symbol. You should always make sure you change your passwords often. The Better Business Bureau recommends that you change your passwords once a month.
3. Use a third-party payment processing plugin.
There's no quicker way to lose the trust of your customers than by having their accounts compromised because you left their payment data on your website.
If a hacker manages to get into your website, you can recover. If you have customer data on your website and the hacker gets tens of thousands of payment methods from your customers, your business can potentially shut down for good. No one is going to trust your company because they were burned by your lack of security.
Luckily, there is a way for you to protect yourself and your customers. You can add a third-party plugin to your site to handle payment methods. They often either delete the information as soon as the order is processed or hold on to it in their secure server.
4. Back up your website data.
Most people tend to back up their computer in case they run into a virus, or a serious crash occurs and they are unable to boot their computer normally. You should take this same advice and apply it to your e-commerce store.
Not only will this ensure that your website is safe and secure, but it also includes a host of other benefits. Exporting your data is a breeze, and you'll be able to back up your data if something goes wrong with a third-party add-on.
These are just a few ways you can make sure your e-commerce store is secure. As your website grows in size, you'll need to increase your security. Bigger businesses are a larger target for scammers, hackers and fraudsters. If you take the time to secure your website, you can look forward to a healthy, profitable e-commerce store. You'll have happy customers, get more sales and have some serious peace of mind.