By Linda Rosencrance, Insureon Contributor
When consumers make purchases online, they leave their financial and personal information to your business. Not only do e-commerce companies have to respond to their customers and employees if these data are compromised, but they can also be held responsible by industry regulators.
E-commerce companies are exposed to cyber security threats because such companies typically store customers & # 39; bank accounts and credit card information, email addresses, address addresses, and usernames and passwords. Cybercriminals use this information to make money by duplicating credit cards and using consumer's personal information for identity theft and fraud. Sensitive data can also be kept for the ransom of hackers.
If you run an e-commerce business, you need to be aware of the threats to cyber security that can cause chaos on your bottom and your company's reputation.
Five Common Security Threats
In this attack, a cybercriminal masks as a trusted device to entice someone to open e-mail and click links or download attachments that install malware. If your employees or customers fall for this bluff, they can give attackers access to sensitive information, such as usernames, passwords, credit card information, and network information, posing a risk to your online retail.
Distributed denial-of-service (DDoS) attack
A DDoS attack is intended to bring down your site by overpowering your servers with inquiries. In a DDoS attack, requests from hundreds or thousands of IP addresses that are likely to be compromised and tricked into requesting your site over and over again. A DDoS attack overloads your servers, slows them down, or temporarily takes them offline, prevents your customers from accessing your site and completing orders.
In a man-in-the-attack, an attacker listens to a user's communication with your site. For example, if one of your customers uses a mobile device on an unprotected Wi-Fi network, an attacker can capture the internet communication between that person and your site ̵
If the connection between your customer and your website is not encrypted, a man-in-the-middle attack could see all the pages the customer visits and eavesdrops the user's user name, password, bank account information and credit card number.
Malware is malicious software that cybercriminals insert into your web pages or web files when they access your site. Hackers then use this malware to steal your sensitive business information, including your customers' personal information. Malware can also redirect your web pages to other sites and include pop-up ads on your site.
This is a type of malware that prevents you from accessing your devices and business data. Ransomware displays a message on your devices that require payment before accessing your files. The most common way of ransomware infection is phishing emails containing malicious attachments, pop-up ads on the site, and visiting a compromised site.
Protecting Your E-Commerce Business
As an e-commerce business owner, you have to take the necessary steps to protect against these threats to cyber security, protect corporate data, and minimize regulatory control. You can do this by assessing the unique risks of your e-commerce business, developing clear policies and procedures for your business and employees that address these risks and create an incident management security plan.
Train New and Existing Employees on These Policies and Procedures and explain what to do if security breaches occur. Keep your website, devices and systems up to date with any software updates or patches to update your software and back up your data and information regularly to reduce the damage to a data breach.
e-commerce company cyber liability insurance
Your cyber security program should also include appropriate online based insurance so that you can safely run your e-commerce business knowing that you have the coverage you need for any trials you may face due to a data protection.
Cyber liability insurance, also known as data breach insurance, protects you from liability and costs due to theft or loss of data and breaches of security or privacy. And credibility insurance insures your business if one of your employees steals your sensitive business information.
Start a free online application with Insureon to compare insurance quote for your e-commerce company from the best US carriers.