With the current state of the world, both consumers and retailers have shifted their focus from in-store retail to online shopping. The popularity of shopping from home is set to hit a new record this year, and it’s a trend that shows no signs of slowing down. Whether businesses like it or not, online shopping is here to stay.
But as retailers of all sizes expand their ecommerce offerings, there’s more to consider than just sales. Online retailers are consistent targets of cybercrime, and face real threats of information theft, security breaches and financial burglary.
Read on to see why online retailers are targeted, and ways to prevent cyberattacks from happening if you own a business.
How Online Businesses are Targeted
Hackers know that many retailers do not have knowledge or the resources to comply with data security best practices. But these standards are in place for a reason, and it’s vital to protect your data as a business owner.
Online businesses store not just their own personal information, but databases of customer information like email addresses and credit card details. Since hackers are often driven by money, this treasure chest of sensitive information is like gold to them. For cyber criminals who are financially motivated, small businesses with a lack of security measures in place make for an easy attack. Hackers can take this information and sell it on the dark web.
So, what can happen if your business falls victim to a cyber-attack? One of the most common ways that hackers target businesses is with spear phishing tactics, which happen when the criminal tries to steal login credentials by masquerading as someone with authority at the company. If they are successful in logging on to your system as someone else, the hacker’s malicious activities become very difficult to trace and they are at a low risk of being caught.
There are a few main ways to prevent your business from being targeted by hackers. Here are some to keep in mind.
Educate Your Employees
The more that you and your staff are aware of cyber-attacks, the easier it is to prevent them. You could remind your employees about best practices when at work, such as never opening messages or attachments from people they don’t know, or set rules for updating passwords regularly, and so on.
Ensure You Have the Right Measures in Place
Securing your computer system and website are key protocols to follow, too. Does your website have a WAF (Web Application Firewall) to protect your site from attacks? Does your hosting company have your security as their priority? Is your ecommerce platform PCI-DSS (Payment Card Industry Data Security Standards) compliant? These factors are all industry standards that are vital to consider.
Never Leave Equipment Unattended
Enforce that your staff don’t leave electronic work devices like laptops or cellphones unattended. Since there’s no way of knowing who might be around, this is the safest way to protect your equipment and sensitive information.
With informed decision making, preventative measures and security installed, you can help protect your business from cyberattacks.