In early July, Jack Dorsey, the co-founder and CEO of Twitter found out that his Twitter and Vine accounts were hacked. The attack was part of a string of high profile hacks carried out by OurMine Security, a group that is considered to be a white hat organization by most. If these attacks — and especially the Jack Dorsey hack — taught us anything, it was the fact that you can never take online security too seriously.

High profile targets enjoy the benefits of having an army of programmers behind them, and whenever a hack like that happens, they can quickly regain control, usually without serious repercussions. The same isn’t necessarily true for the rest of us, which is just one of the various reasons why you have to take the security of your eCommerce venture very seriously.

Customer Information

When you develop an eCommerce shop, you take on the responsibility of dealing with customer information, including commercial data and payment details. During the online transaction, these private commodities are revealed to your system. At its core, that customer information is the very essence of your business, since without it you couldn’t get paid for your products or services. This requires a safe environment where people can feel comfortable about sharing their personal information. Twitter or Facebook may survive a hack, but your private eCommerce venture probably wouldn’t, or at least not without significant financial losses.

Security Aspects

In order to operate a safe online environment, it’s important to take various precautions. These precautions create the security that’s essential for any successful eCommerce business.

Have Limits

If you set a payment limit on your website, you can eliminate possibly fraudulent financial behaviors.

Monitor all Financial Activities

Successful business owners know about their venture’s financial practices, and the same is true about eCommerce. With a trading site, there are certain signs that can point to a potentially illegal activity, like addresses not matching, or a transaction coming from a blacklisted country. As the owner of your eCommerce business, you can decide to block any suspicious transactions.

Having Top Notch Software Solutions

In order to avoid hacks, your security system must be up to date at all times. Software providers are constantly working on their products to make them better and safer, but if you are not diligent about updating these services, your level of security plummets. Any eCommerce shop should have state of the art anti-malware solutions, including an address verification system and top notch card verification standards.

Summary

When Jack Dorsey or a similarly powerful member of the tech industry gets hacked, that should be a wakeup call to everyone else. There are extremely smart people out there whose sole objective is to steal personal data from others, and offering them an easy go at it is potentially one of the most damaging things that any eCommerce shop owner can do. By regularly updating your system and being diligent about the state of your security at all times, you can reduce the chances of a potential attack significantly.

Sources:

http://www.businesscomputingworld.co.uk/why-is-security-so-crucial-for-e-commerce/

https://www.bigcommerce.com/ecommerce-answers/why-online-security-so-important/

https://www.wired.com/2016/06/meet-ourmine-security-group-hacking-ceos-celebs/

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