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Online Business Security: 5 Quick Tips To Follow In 2020

Updated on: April 27, 2020

Online Business Security: 5 Quick Tips To Follow In 2020

Article Summary

Online business security is gaining its importance over time. With the growing digitization of the business, it is imperative to note that a compromise of the consumer’s data can lead to a $13 million loss to the firms annually. It is, thus, very important to ensure the online business security, if you are looking forward to sustaining. The e-Commerce market is booming with the market penetration reaching close to 16% in 2019.

Online business security is gaining its importance over time. With the growing digitization of the business, it is imperative to note that a compromise of the consumer’s data can lead to a $13 million loss to the firms annually. It is, thus, very important to ensure the online business security, if you are looking forward to sustaining. The e-Commerce market is booming with the market penetration reaching close to 16% in 2019.

The e-Commerce industry revolves mostly around the starting of online stores related to your unique products involving financial transactions. Your product can be tangible or intangible products, such that it has commercial value. Since this industry involves both financial transactions and consumer behavior data, it is at the highest risk for online business security breaches.

This article will explore the various types of risks that the online business is exposed to. It aims to share 5 important tips that should be followed to combat cybercrime to keep your business protected.

Types Of Online Business Security Risks

The online business is prone to maximum risk due to their competitor’s urge to get an upper hand in the business. Moreover, the growing market share of the e-commerce industry is also making it more lucrative for cybercriminals. As the big database of user data is available, it becomes important to keep your online business security checklist in your hand and follow it.

Various types of online business security which your e-commerce website can get exposed to include:

1. Phishing

If you are not well aware of the difference between the authentic page of the website and the fake one, you are about to be phished. Cybercriminals often make a look-alike page of the authentic website and trap you to enter your authentic information. Data like the password, credentials of plastic money are then hijacked and abused eventually.

2. DDOS

Have your servers ever experienced numerous requests from multiple IP addresses? It is the Distributed Denial of Service attack by the cyber hooligans who ensure to overload your server with multiple attacks. As a result, authentic requests cannot be addressed. It leads to the complete break-down of the website. It slows down the site or takes it down completely. This is why online business security plays a major role in 2020.

3. Man in the middle

As a user communicates with the official website, there is a lack of security depending on the connection used for communication. If you have been using unprotected WiFi, you are at an increased risk. Thus, to increase the security level of communication, it is imperative to use a secure mode of communication.

For instance, when a user communicates with the website, an overhear could lead to the leak of passwords. This can lead to further mishaps and eventually lead to bankruptcy.

4. Incidence Of Data Breach

One of the remarkable incidences of the data breach was what happened with Marriot International. Impacting the lives of more than 500 million customers, it leads to the compromise of sensitive information of guests. It included their names, passport numbers and their contact details. More than 100 million customers lost the privacy of their credit card numbers which was a big dent on Marriot International. It is a clear case of breach of online business security which led to the breach of data.

Ways To Enhance Online Business Security

Online Business Security can be enhanced with the help of the following methods. These are the top trends of the year 2020, that have enhanced the performance of the web-security.

1. Using HTTPS over HTTP

HTTPS has proven to add an extra layer of security over the website. This prevents your website from being exposed to any form of external attack. Moreover, it helps in improving the ranking of the website. Since HTTPS is considered for ranking the websites by Google, it is always suggested to use HTTPS.

online business security tips
An illustration to demonstrate how HTTP and HTTPS work

2. Continuous updates of the software

Keep your software updated on a consistent basis. It has been observed that nearly 50% of the ransomware have modified themselves. Thus, it becomes pertinent to update your software to the latest version.

Online business security tips
Online business security risks; Source: https://gms.comparex.com/

Updating your anti-virus along with the application programs on your device is essential. If you forget updating your software regularly, set the settings to auto-updates to keep your system protected.

3. Keeping a back-up of the data

Have you heard about the cyberattack on the San Francisco train system yet? Guess what! They could get back all the important data without even paying a single penny to cybercriminals.

Online business security tips
Types of backups and their benefits; Source: https://searchdatabackup.techtarget.com/

It was all possible due to the data back-up that they had with themselves. Nonetheless, it takes a lot of financial hits to be able to retrieve all the data, if you failed to back it up.

4. Going the cloud way

Let us face it, cloud computing was one of the biggest technological advancements. It has helped the organizations to outsource the security needs and reduce their expenses. Instead of focussing on maintaining the security and monitoring them, organizations can outsource it.

It can also enhance the portability of the important files. Thus, you can ensure that you can carry your work anywhere around.

online business security tips
Cloud computing benefits; Source: https://www.globaldots.com/

Though it provides multiple benefits, it comes along with a trade-off of handing over the data to the cloud service providers. In the case of over-sensitive data, you need to make a judicious call!

5. Secure your wireless devices

It is often suggested to have two separate wireless systems: one for the visitors and the other for the office work. Securing your wireless devices enhance online business security.

Consistent updates of the password are regarded as the best way to keep your wireless device safe, secure and updated. Trying out the latest hacks for blocking intruders in your routers should be tried out to enhance security.

online business security
Wireless devices risk; Source: researchgate.net

Astra Security for Online Business Security

The e-Commerce industry needs to secure its business for consistent growth and market leadership. Keeping this thing in mind, Astra Security has launched a plethora of CMS specific services that cover the security of all Magento, Drupal, Opencart, Joomla, PrestaShop, and WooCommerce sites.

If you are still looking for the best online business security solutions, Astra Security is the right one for you! Make the smart choice today for the 360-degree online business security!

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How Astra Web Application Firewall protects your WordPress website

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Jinson Varghese

Jinson Varghese Behanan is an Information Security Analyst at Astra. Passionate about Cybersecurity from a young age, Jinson completed his Bachelor's degree in Computer Security from Northumbria University. When he isn’t glued to a computer screen, he spends his time reading InfoSec materials, playing basketball, learning French and traveling. You can follow him on Medium or visit his Website for more stories about the various Security Audits he does and the crazy vulnerabilities he finds.
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