Online businesses can be lucrative, but they come with the risk of cyberattacks, which have become routine events these days. 

We regularly hear news about data breaches and other types of attacks using new techniques to steal customers' information and hack websites. Many businesses have suffered massive losses because of cybercrimes. To succeed in the e-commerce business it is essential to create a safe environment for your customers. 

How can you ensure online business security? This article is a comprehensive guide to help you secure your online business and prevent a potential cyber-attack. Let's get started.

Want to Secure Online Business? Follow These 8 Effective Tips

Install Anti-virus Software

Virus, ransomware, and trojan horse attacks are common. However, using anti-virus software can mitigate the risk of cyberattacks to a considerable degree. 

Anti-virus software prevents diverse types of malware from attacking your e-commerce website and other web applications. When someone tries to install a malicious program or access sensitive data, the anti-virus program will alert you and prevent them from completing the action. 

However, not all anti-virus software is equally effective. Assess their features and benefits before subscribing to one. At a minimum, make sure the one you choose has real-time protection, scheduled scans, and automatic updates.

Use an SSL Certificate

When you run an online business, thousands of people visit your website daily. Presumably, your customers will pay online, which increases the risk of their payment details getting exposed to criminals. 

If your website does not have an SSL certificate, it is easier for attackers to access your customers' data. When you use an SSL certificate users' input data is encrypted on the website and then transferred in an unreadable form. This prevents hackers from deciphering the information even if they have access to it, which is essential to secure online business. 

Using an SSL certificate makes your website more dependable, increases shoppers’ sense of security, and builds trust between you and your customers.

You can easily purchase and install a reliable single-domain or multi-domain SSL certificate for your online business from an online provider. Some, such as Wildcard SSL Certificate, offer reliable protection at comparatively lower prices.

Ensure Everyone Uses a Strong Password

Password breach is a major threat to online business security. The majority of e-commerce employees not only access the business website regularly but also require access to numerous other web applications and sites. Many people use simple passwords like a sequence of numerals or letters, which increases the risk of hacking as criminals can crack them easily. If a cybercriminal successfully hacks an employee’s account, they may be able to access your data and that of your customers. Requiring your employees to use strong passwords can protect your business from brute force attacks. 

You can test the strength of your passwords and use a password generator to ensure that your passwords are secure. Do your employees share login details? Try TeamPassword’s password management tool free for 14-days.

Many e-commerce sites require customers to create an account. This too can create vulnerabilities. Once cybercriminals create an account they are part of your online community and can potentially access sensitive data or negatively affect your credibility. To protect your business you should require everyone creating an account on your website to use a strong password. A minimum of 12 characters that combine numbers, letters, and special characters is best.

Train Your Employees to Identify a Threat

Many organizations don't train their employees to detect cybersecurity threats. 

Not all of your employees may be tech savvy or aware of cyber security risks. As a result, they might do something unintentionally like respond to a phishing email or download files that install malicious programs. 

Criminals are becoming increasingly clever at finding ways to breach websites’ security in order to access sensitive data. Educating your employees to understand their methods in order to identify threats is essential to prevent cyberattacks and secure your online business. 

Scan your website regularly 

Your website is the most crucial part of your online business as most transactions take place here. Many people visit your website for shopping, or to get information about your products. Hackers scan websites to identify ones that will be easier to exploit. 

A little security lapse can put your website at great risk, as miscreants can access critical data or hack your website before you know they’re there. Securing your e-commerce website plays a crucial role in online business security. A regular scan of your website helps detect vulnerabilities and bridge security gaps. This can be done internally or externally by a cybersecurity company. 

Have Security Policies in Place

A cybersecurity policy is essential for every organization. You need to adopt a security policy that meets the needs of your business and ensure everyone in the organization adheres to it. 

How do you design a security policy? There are templates available online. However, hiring professional cybersecurity personnel is an excellent way to secure your online business, whether you add them to your payroll or contract with a cybersecurity provider. Cybersecurity professionals will have the ability to detect vulnerabilities in your website, make improvements, and recommend a security policy that is best suited for your business. 

Remember that any hardware you connect to the Internet is vulnerable, not just your computer. Digital ordering tools, smart appliances, and your point of sale (POS) system can all be hacked.  

Don't Store Customer's Sensitive Information

When you run an e-commerce business, you will have access to users' personal and payment details. Storing customers' credit card information and other sensitive information in your database can be a threat to your online business’ security as it may attract cybercriminals to your site and expose you to a breach.

Instead of storing the credit card information yourself, hire a third party to manage the financial transaction. Many third-party e-commerce platforms provide top-of-the-line protection and are easy to implement. 

Backup Your Data

You can implement the best online security policies, but still, you may not be able to mitigate the risk completely. Preparing for the worst situation is a wise way to reduce the impact of a cyberattack. 

In the event that a hacker takes over your website and other applications, you may lose some data forever. It is wise to backup both your and your customers’ critical data. Even though it won't help in preventing the attacks, backing up your data will ensure you don't lose it forever.

Conclusion: 

Online business is a lucrative profession that allows you to sell your products or services to customers from another part of the country or even abroad. However, it involves cybersecurity threats as well. 

To succeed in this business, you have to ensure your website, mobile application, and other online tools are secure. 

A security breach can damage your reputation, and your competitors will exploit the opportunity. You must take measures to mitigate the risks and ensure the safety of customers' data. 

We have discussed a few tips to help you secure online business. Implementing these will help you minimize the risk and earn your customer's trust.