5 Ways Online Stores Can Protect Themselves From Cyber Attacks
Businesses with an online framework or structure have been the target data breaches in recent times. These five guidelines will help fortify your online store from cyber attacks.
1. Use Firewalls and Anti-malware
Over time, the normal anti-virus software has proven to be deficient in combating viruses and malware, especially ransomware.
Ransomware is the most prevalent malware today and it is only detected by anti-virus software when it has wrecked sufficient damage to your computer files.
Rather than relying on anti-virus software, invest in firewalls and anti-malware which are specifically designed to deal with malware and virus related issues.
A well-optimized firewall will prevent any virus from gaining access to your computer, keeping your computer files and records safe.
Related: How to Protect Your Small Business Network from Cyber Attacks
2. Avoid Unsecured Websites
Cybercriminals create websites and phishing sites where they can directly access sensitive data stored on the computers of anyone who accesses those sites.
Visiting unsecured websites and submitting your personal details on them puts you and your data at risk.
You must always be on the lookout for websites with unformatted web addresses and sites without an SSL certificate.
Do not submit personal details like your social security number, your credit card number, your bank account details, email address and any other personally identifiable information (PII) on any random site.
Related: 4 Signs You Need to Update Your Business Network
3. Do Not Share Passwords
Your online store will be at risk if you are fond of sharing your passwords and login details to just anyone. To keep your online store safe, do not share your login details.
If you are using a computer that is not yours, go incognito and make sure you close when you are done.
Also, use strong passwords and not things like your phone number, date of birth, or pet’s name.
Related: 5 Cyber Security Strategies for E-commerce Vendors
4. Data Encryption
Install data encryption to encrypt every transaction carried out on your online store. This will make any information that gets into the hands of a cybercriminal to be useless.
Sensitive data such as your customer’s information and your store’s business data should be fully encrypted as they can be potent tools in the hands of cybercriminals to cause a cyber breach.
As you encrypt sensitive data, store them in cloud-based storage to safeguard it from security breaches.
Related: 6 Cyber Security Trends for 2020
5. Invest in Cyber Liability Insurance
Even if you have all the steps listed above in place, your online store will still not be 100 percent secured because hackers will always find a way around them.
Data breaches can adversely affect the continuity of your online store. In 2017 alone, the global average cost incurred by a single data breach was around $3.6 million. Big corporations may survive this kind of breach but what chance do you have as a startup? Absolutely none.
Fortunately, with cyber liability insurance, the cost incurred from a cyber breach can be effectively mitigated and continuity after a breach is made possible.
Related: 5 Business Risks That Require Adequate Insurance Coverage
There are peculiar insurance needs every online store should have in order to be able to mitigate the effect of a data breach.
