Retail, E-commerce Cybersecurity

The retail industry has undergone rapid changes over the past 20 years, especially as the Internet became mainstream. Retail, E-commerce cybersecurity is now more important than ever.

Some of the first Internet-based businesses involved retail sales, leading to online behemoths today like Amazon.com. But along with the rise in online sales — E-commerce — has come a similar rise in cyber theft.

Companies use Threatcare to validate cybersecurity through threat simulation. Threatcare, an Austin-based SaaS company, is the leader in proactive cyber defense.

Today, breaches of data involving the retail and E-commerce industries is at an all-time high. A recent analysis noted that the number of data breaches increased by 53.6 percent in 2016, when compared to a similar time frame from the previous year, and 38 percent of those targeted e-commerce Web sites. Of those, 43 percent of hacks/cyber attacks targeted small businesses, because their data systems are usually under-protected. The result: Massive financial losses, some resulting in the closure of the business.

So that’s why it is vital for E-commerce retailers to get serious about protecting customers’ (and their own) data. Not only is failure to protect information systems potentially expensive, but the hit businesses take to their reputations can also be crippling.

There are a number of ways, fortunately, for online retailers and E-commerce firms to better protect their data:

  1. Use of a secure E-commerce platform: By hosting e-commerce sites on platforms that support sophisticated programming languages, retailers can obtain much better protection. According to BuildWith, an Australian Internet services company, more than 663,000 web sites operate on WooCommerce, which is WordPress’ plug-in. Why? Because it’s low-cost, easy to set up and carries a high degree of security.
  2. Using a secure connection for online checkout: A strong SSL (Secure Sockets Layer) authentication for data protection helps prevent third parties to decode data. This also increases customer trust of the E-commerce site.
  3. Use of complex passwords dramatically improves site security and data protection.

About 1 in 40 small business data systems are at risk of being victimized by hackers, and while that pales in comparison to the 1-in-2 ratio of cyber attacks launched against large businesses — often multiple times per year — it’s the small business that can less afford to withstand the financial hit of data theft.

Threatcare believes that every organization has the right to know if they’re secured.

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