7 Remarkable Tips To Safeguard Your E-Store & Keep Fraudsters At Bay

The eCommerce businesses have dramatically improved in the last few years. However, along with the gradual advancement in the field, the risk of cybercrime and fraudsters has certainly also increased.

Since, security is a crucial aspect for any eCommerce website, therefore, for a sustainable e-store, it is essential to keep fraudsters and cybercrime like hacking or phishing at bay. If your online store is not offering a secure platform for processing online payments, most likely you will lose all your potential consumers. And, if fraudsters are impacting your business, unfortunately, you will probably soon experience financial crisis.

Luckily, there are certain ways by which you can prevent your eCommerce site from being hacked and protect the sensitive consumer data (like credit card info) from being stolen. Without any further ado, let's get to the meat.

1. Checkout process must embrace a secure connection

To ensure that all the sensitive data associated with your online store are safe from fraudsters, it is advisable to embrace SSL (Secured Sockets Layer) authentication. Or, it would be great if you can integrate EV SSL (Extended Validation Secure Sockets Layer). By doing so, the SSL security seal and a green URL will be added to your e-store. This represents that your store possesses a secured checkout process, which helps gather customers' trust.

2. Effective CVV (Card Verification Value)

Every credit card possesses a unique CVV number that is impossible to guess. Moreover, according to the PCI standards, the sensitive info like the CVV number must not be stored with other credit card info on websites. For this reason, the CVV is quite effective. And therefore, it is recommended to ask the CVV number during the checkout process to minimize the risk of fraudulent purchases.

3. Ask for a powerful passwords

You can make your database more secure by asking your customers to create robust passwords for their accounts that can't be easily cracked. For this, you can put certain conditions like,

  • Setting certain minimum number of characters for generating a password.
  • Mandate usage of different characters, including a special character, digit, uppercase alphabet and lowercase alphabet.

The complex passwords will help prevent the breaching of your site from the front end.

4. Regularly monitor your online store

An analytic tool, not only helps determine the user behavior on your site to further improve the UX, but also helps identify the prying eyes who are looking for a chance to commit a fraud. There are several high end analytics tools available in the market. You may choose a reliable one to identify how your site visitors are interacting and accessing your site in real time. This will help you seek security loopholes (if there are any) and determine fraudsters who are behaving suspiciously.

With the advancement in technology today, there are proficient tools that generate alerts on a registered mobile device whenever a suspicious activity is detected. It, thus, allows one to instantly take effective measures to secure their eCommerce store from a crime.

5. Offer order tracking number

By providing an order tracking number, you can spruce up your services while allowing your customers to conveniently track the process. It is great for tracking both the payment process and shipment process (if any). This will definitely help combat the severe chargeback frauds.

6. Run on an updated software and platform

It has been observed that eCommerce platforms like Magento, WordPress, etc., keep updating from time to time. Not just the platforms, but extensions, plugins and themes are also updated on a regular basis. There might not be a major enhancement in the functionality, however, the latest version may include certain latest bug fixes. Therefore, it is advisable to make sure that your online store is running on an updated version of the platform and using the latest softwares. This will surely help you get rid of vulnerabilities of malware and virus attacks.

7. Multilayer security to prevent cybercrimes

Leverage your eCommerce business and make it safe from cyber criminals by layering up your site's security. There are numerous invaluable approaches that can help prevent breaching to critical info. And, one such approach is implementing firewalls. Moreover, you can protect your site from attacks like XSS and SQL injections, by including login boxes, contact form, etc. This will integrate an additional security layer to your e-store. 

Fraudsters can swipe away the critical customer info
It has been observed that fraudsters often follow either of the two approaches for stealing the sensitive consumer info from the eCommerce websites. By understanding the common strategies used by fraudsters, you can implement an effective method to secure your e-store.

a.) Steal info from the database: However, most of the e-stores thrive to ensure greater security to the sensitive user data stored in the database. There are a few fraudsters who can still manage to swipe away the info from the database.

b.) Takes over the account access: It has become a common trend that most of the online stores allow their users to create a user account. This account is then used for storing the personal info, payment details and more info of every customer. Via a phishing technique, fraudsters can get access to the accounts and misuse the details to make unauthorized purchases.

Final Thought:

These efficient tips are great for making an eCommerce website a more secure and reliable store for online shopping. Consider your ultimate business goals and ensure utmost security from cybercrimes to your e-store. This will leverage your business and help you generate greater conversions and sales.

Author Bio: Jason Roiz is an software developer for Xicom Technologies, a software development company. He loves sharing latest information on web applications and solutions.

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