Will Your Ecommerce Platform Survive A Cyberattack?

Some ecommerce sites are finding that paying extra attention to security to survive a cyberattack can provide a genuine business advantage over competitors.

Businesses that runs an ecommerce store is growing at an unprecedented pace, but along with it the scourge of cyberattacks. Security, is the biggest challenge in running an ecommerce store. We can talk about design and aesthetics all we want, but if the website is NOT secure, no one is going to trust someone with their money!

Today in the U.S. alone, there are 30.2 million small businesses, which make up 99.9% of all businesses in the country. The internet has become a key competitive advantage for small businesses, and these companies have the benefit of implementing technology quickly, as they typically aren’t working with vast systems or legacy architecture.

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Will your ecommerce platform survive a cyberattack? check out the following data.

In 2018, 58% of all cybercrime victims were small businesses, according to a report from Verizon, and only 14% of those were adequately prepared to defend themselves. The average cost of a cyberattack for a small business is $200,000, more money than many can afford to pay. In fact, insurance carrier Hiscox says because of the high cost of cyberattacks, 60% of small companies go out of business within six months of being victimized.

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How likely will your ecommerce website suffer a cyber attack?

According to research conducted by the National Cyber Security Alliance, there is a 60% chance of it happening to your online store!

cyber attack

Small business is all about managing risk since no risk can be prevented with 100% certainty. But what if I told you that there is one risk which puts 60% of businesses that encounter it out of business? You’d get better odds at Vegas playing craps! Furthermore, what if I told you that it is virtually certain you will encounter some form of this risk and that you might already have and not even know about it? Worse yet, I’ll bet most people reading this are barely, if at all, prepared for it.

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Surprisingly, 65% of all small businesses simply ignore a cyber security incident, then ends up losing the business. Consider this research conducted by the National Cyber Security Alliance:

  1. Almost 50 percent of small businesses have experienced a cyber attack.
  2. More than 70 percent of attacks target small businesses.
  3. As much as 60 percent of hacked small and medium-sized business websites go out of business after six months.

So what can you do to survive a cyberattack?

#1. Assume that a cyberattack is a likely event for your company,

Whether your ecommerce store has been targeted or random, never assume that nothing bad is going to happen!

#2. Prepare for it.

Start with your staff. First, limit access for employees to only the data and applications required to do their jobs. Next, train them on awareness and practices and keep that education up to date. Share the latest trends in attacks and fraud. Consider drills or exercises that give employees a chance to act before an actual attack happens.

survive a cyberattack

#3. Deploy security.

This includes a firewall that can monitor network traffic based on predetermined security rules and provide a barrier between your network and the Wild West of the internet. It also includes a virtual private network (VPN) that can connect you and your employees safely when you’re away from the main company network. Other low-cost tools like multifactor authentication, cyber analytics tools and ongoing vulnerability testing can prove helpful.

Most common cyberattack on ecommerce systems and simple remedy

Bandwidth drain
-This usually happens when someone or something is trying to login through backend by brute force, in the hope of hitting the correct login credentials by chance. As a result, page keeps loading and loading every time the script runs, eating up all of your bandwidth resource. Your website gets really slow or stops running, and eventually you lose your sales. The worst thing that can happen is if the script hits the correct login credentials by chance, and they are able to login.

What to do when this thing happens?

The solution to this is simple. By simply changing or renaming the admin folder. Hackers and spammers know every open source file directory. Renaming the admin directory to a name unique to you can arrest this kind of attack.

Another place of attach is the contact and registration form

This can simply be resolve by installing recaptcha

#4. Consider hiring security service.

Hiring security services allows you to delegate the management of security without requiring you or your employees to become cyber experts. These services can be highly cost-effective, especially when considering the time and peace of mind saved.

Additional resource

Secure Your Ecommerce Store This Holidays With These Simple Tips

The No. 1 Ecommerce Business Problem You Should Take Care Of this new year

Conclusion

The only way to survive a cyberattack is to double down on your cyber protection, and communicate effectively with employees and customers. Never ignore an attack. Instead, learn where your vulnerabilities are, and work to fix them.

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