How to approach e-commerce security?

Before going into the details of creating an effective e-commerce security strategy, it is very important to grasp the conceptual imperatives of security in general. First and foremost of which is to understand that absolute security in any system is simply unattainable.

That is because attackers are always ahead of security experts. They constantly attack, test, explore and find new methods to overcome security protocols in many ways. And security experts only react to every attack vector, either by trying to minimizing the damage or by producing better security patches.

Although, it is always considered safe to implement all the standard security practices but what is best is to approach e-commerce security by creating a good threat perception and threat anticipation mechanism.

Depending on the value that different e-commerce companies create for their customers, it is only a practical option to list all the possible scenarios where your product or services can be misused in gaining illegal monetary benefit.

Constant research and ethical hacking are some of the effective tactics to implement in this regard. Exploring possible weak spots and devising better and strong remedies will allow your business to grow in relative security. And it is always good to believe in the fact that absolute security is just an illusion.

Updates Fortify Security

It is utterly disastrous to ignore or delay software updates. Most of the regular updates of popular CMS (Content Management System) software, themes and pulgins are a direct response to some newly explored security vulnerability. Also known as security patches, these updates surely keep attackers at bay.

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From a security point of view, it is wise to install security patches as soon as possible. It is regularly reported that most of the security breaches are a direct result of running outdated software. 

Cyber-criminals always look for easily exploitable outdated software. Although, there may be several unknown security holes to many popular software on the black market as well. But, it is always a good habit to ensure that the latest security patch is installed right away. 

Software updates not only patch security holes, they also improve software performance and usability. Therefore, software updates must be strongly enforced through a formal security policy.

Updating software should not be limited to your business platform or CMS website. Other software that are directly or indirectly linked to your business should also be updated as well. Like the OS (Operating System), browser, word processors & pdf readers, image processing software, anti virus software or any other software related to your e-commerce business.  

At the end of the day updating software is about adding a security layer to your online business. 

Secure communication, SSL & TLS

Secure e-commerce starts with secure communication protocols, a website without a strong encryption protocol is always vulnerable to man in the middle attacks. Public key encryption is one of the best ways to secure messages in transit.

Public key encryption is an asymmetric encryption system that uses a pair of keys (Public & Private) to encrypt and decrypt the message. This authentication system allows the sender to lock the message by encrypting it with the receiver's public key thus making it unreadable to anyone except the intended receiver. At the other end, receiver unlocks the message by decrypting it with his/her private key.

For secure browsing, a similar encryption system is used between a client system and a remote server where the data packets are encrypted at both ends to avoid potential snooping. In order to implement this system websites need to buy a SSL (Secure Socket Layer) or a TLS (Transport Layer Security) certificate. Different versions of SSL and TLS are available with a number of issuing authorities.

Secure browsing is the first step in conducting secure e-commerce. With the implementation of https, a secure channel for communication is established, allowing the customers to send their PSI (Personal Sensitive Information) without the fear of being stolen in transit.    

Setting up a Security Policy

One of the most essential things for any online business is to have a proper security policy. A formal document clearly stating all the necessary security protocols that are fine tuned to suit that company's security needs.

It may include things related to password management, secure browsing, software update policy, computer usage policy, so on and so forth. What this document provides is a very simple and basic guideline for implementing better security practices.

Simply put, it promotes secure work environment while helping to infuse security mindset among employees. Security policy as an official document also forces a sense of authority that compels workers to form better work ethics while developing positive security practices in general.

Security policy also acts as a baseline for developing more advanced cyber-security strategies against specific threats.

A reference point for all future security endeavors, security policy document is a must for all online businesses.       

Why e-commerce security is essential?

With a massive growth in e-commerce, cyber-criminals are readily exploiting this lucrative industry. From PSI (Personal Sensitive Information) theft to ransomeware and DDoS (Distributed Denial of Service), hackers are using a multitude of ways to extort money from online businesses.

Research indicates that small and medium e-commerce companies are more prone to attacks from cyber-criminals. And surprisingly, most of these attacks can easily be avoided by following some of the most basic cyber-security practices.

Although, it is hard for many startups and small businesses to setup dedicated cyber-security departments, but it is only by understanding some of the security fundamentals and implementing the basic cyber-security practices that most of these small businesses can avoid major security breaches.

What is required is a proper comprehension of basic security concepts and their implementation in real life situations.

This blog is an honest initiative aimed to promote cyber-security awareness among small and emerging online businesses. Bookmark for more security related simple blogs.