8 Essential steps to shield your Ecommerce site from fraud

Ecommerce businesses are regularly attacked with fraud and hacking attempts that sometimes have the power to shut down the operation. Surveys show that approximately 90 percent of all businesses have suffered from some form of computer attack in the last year, which clearly indicates that no company is immune.

When you develop your business website, the level of security to apply is one of the most important steps you will take.Despite harsher punishments for computer crimes, cyber-attackscontinue to growin number every day.

According to research from PWC, 38 percent more security incidents were detected in 2015 than in 2014. Since the average cost per stolen record can amount to anywhere from $154 to $363, that’s a pretty frightening statistic.

How prepared is your business forcurrentcyber-attacks? If you haven’t taken steps to protect your ecommerce site from fraud and hackers, here are some tactics you may want to start doing.

shield your ecommerce site from fraud


1. Choose a Secure Platform

Most sites are built on a web hosting platform that should already have basic security measures in place. Do some research to see what security details yours will cover. Look for a platform that uses sophisticated object-oriented programming language, because that’s typically a signal of deeper security measures.


2. Use Secure Online Checkout

Consumers today are urged to do business only on sites that have secure online checkout systems. Yours should use strong secure sockets layer (SSL) authentication for data and web protection. Most browsers these days will signal to consumers when a site they’re visiting doesn’t have SSL protection, and that can cause many of them to abandon their online shopping cart.


3. Require Verification

Install an address verification system (AVS) and card verification value (CVV) for all credit card transactions. This sends a swift message to the card service to indicate this is an authentic bank account with the right information. Many fraudsters will try to use fake card numbers or stolen cards in online transactions, but if you have a verification system in place, it can block that kind of fraudulent activity.


4. Mandate Strong and Frequently Changed Passwords

Many people don’t understand how much harder it is to hack complex passwords than simple ones. The most common password is 12345, and that’s a fact most hackers are aware of. By implementing a system that requires a certain array of characters, at least one capital letter, and at least one special character, you’ll help your customers develop passwords that are difficult to crack.


5. Don’t Store Sensitive Data

Large businesses often offer the option to store credit card information for consumers’ convenience. That’s because they’ve invested heavily in a security system that will protect that data. Small businesses don’t usually have that luxury, and it’s safer for you simply to release the information after it’s been processed, in case someone bypasses your security system.


6. Set Up System Alerts

This tool can detect suspicious activity and alert merchants before a transaction goes through. For example, when a single person tries to place several orders with a variety of credit cards, home addresses, and phone numbers, the system will register this as highly suspicious and block the transaction.


7. Layer Security

Begin with firewalls and work your way up to a more secure system. There are a variety of security plugins for every web hosting service, and each targets a different attack. Using as many of these plugins as possible will build up layers of security to protect your site.


8. Provide Security Training for Employees

Employees are actually your weakest link in online security, not because of resentment toward management or the company, but due to simple laziness and ignorance. A simple mistake could leave the door wide open to a variety of harmful attacks.

By offering special training for your employees, you can significantly reduce employee error and keep your ecommerce site secure.

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