8 tips for website and e-commerce security

Cybercrime has reached epidemic proportions. The global cost of cybercrime exceeded $450 billion in 2016, and the annual cost of data leaks worldwide is expected to reach $2.1 billion by 2019. Companies targeted by cybercriminals have a lot to lose : According to the Cisco 2017 Annual Cybersecurity Report, of organizations that experience attacks, 29% lose revenue and 38% lose more than 20% of their total revenue. 

 2016 retail sales only grew by 2.2% from the previous year, while ecommerce sales have been growing by a yearly average of 15%

But businesses aren't the only victims of cybercrime, and your brand could lose more than just money. When buyers agree to purchase from you, they trust that your website is secure and that you will protect their valuable and potentially sensitive information. Unfortunately, if your business is targeted, there's a good chance it's your customers who will suffer the most. 

Cybercriminals have your customers in their sights

Recently, a breach at one of the three largest credit bureaus in the United States may have affected as many as  143 million customers . And although this particular episode is worthy of being written down in the annals, it is certainly not an isolated event. All businesses (large and small, B2B and B2C) are under attack, and the most common target is sensitive customer and user information.

Your customers' personal information has value. For criminals, a stolen credit card number has an obvious use. But beyond that, relatively innocuous information found on the web, such as names, phone numbers, emails, Social Security numbers, and so on, has interested buyers waiting to get their virtual hands on it, causing potentially endless problems for customers whose data have been compromised. Ensuring top-notch website security should therefore be one of your business priorities.

Customers who lose personal information to cyber thieves could see it for sale to spammers and scammers, and be hounded by email or phone for years. They could suffer from the financial ramifications of credit fraud, which would damage their credentials and cause thousands of dollars of debt. Some victims may even find themselves guilty of crimes committed under their names. To top it off, victims of data theft will likely have to spend hours, days, weeks or even longer trying to track down and resolve the mess associated with the loss of their personal data.

For companies that have built their business on customer trust, failing to ensure website security is simply unacceptable.

Adopt these eight strategies and ensure the security of your customer data

Sharing information is a necessary part of business in the modern age. Many buyers accept this and are willing to believe in your company by entrusting it with their sensitive data, as long as it is capable of protecting it! If you set up your site security correctly, you will maintain customer trust and avoid catastrophic consequences.

Here are eight tips for building an effective customer data security strategy.

Comply with regulatory standards.

When money changes hands, the stakes are really high, which is why customers want to know that you're doing everything in your power to protect their data. By adhering to industry and regulatory standards for e-commerce security, your brand is not only demonstrating to customers that you care about their security, but also promoting responsible business practices within your organization.

Leverage the most trusted security resources.

From the moment your customer swipes their credit card or clicks "submit" on an online form, the security of their data is your responsibility. Investing in the right ecommerce security resources is essential to keeping that data safe. Point-to-point solutions encrypt credit card data from the first moment the card is swiped throughout the payment process. Likewise, as the focus continues to shift from in-store to online security, antivirus and firewalls are just the beginning: intrusion detection systems, vulnerability monitoring,

Use only PCI-compliant payment devices.

Machines that process credit card transactions in-store should always adhere to PCI compliance standards. PCI compliance standards are a set of rules and best practices designed to ensure that companies handle customer credit information securely. PCI security is a standard for all businesses and industries of all sizes, and organizations that neglect PCI compliance could face fines or penalties, as well as putting the security of customer data at risk. Make sure you comply with PCI security standards to avoid potentially catastrophic consequences.

Train employees effectively.

Your employees can be your most reliable firewall against data theft, but only if they are trained properly. Ultimately, data security isn't just an IT department's responsibility: it's a responsibility for everyone who works for your company. Coordinate departments and provide ongoing security training so everyone understands the essential role they play in protecting customer data.

Use security best practices.

Going hand in hand with employee security training, best practices provide your organization with a standard set of rules that can be followed to help reduce data risks. Placing restrictions on BYOD and employee data access reduces the number of potential security weaknesses. Locking office computers when not in use reduces some of the dangers of theft or loss of devices. Implement data protection policies throughout your company so employees can learn the most effective ways to keep data safe.

Inform customers.

Employees and systems aren't the only target of data thieves. Customers themselves may be missing out on sensitive personal information while interacting with your business. Update your customers and help them understand the risks they face by providing unprotected data. Sensitive data shared over insecure digital channels (such as most email servers) could be intercepted and exploited. Raise awareness among the customer base to share personal information only on secure and encrypted systems and to avoid sites that have suboptimal or non-existent web security.

Delete customer history regularly.

When it comes to customer data, many organizations have the knee-jerk reaction of wanting to hold on to as much information as possible for as long as possible. But while some data offers analytical benefits, information such as credit card numbers, CVV2 codes and Social Security numbers have no demographic relevance. Keeping this information on file longer than is strictly necessary to facilitate a transaction exposes customers to significant risk in the event of a data leak. Regularly delete this type of data from your systems.

Keep up to date on updates.

The security of your website is of primary importance. It may seem obvious, but keeping company software up to date is one of the most effective preventative actions a company can take to protect customer data, even if it is very often overlooked. In addition to allowing the security software to be able to neutralize the latest and most innovative attacks, the updates also take care of fixing already known problems in company systems and across all departments. Unfortunately, research suggests that more than  50% of enterprise computers  have outdated versions of major operating systems.

73% of shoppers use multiple channels during their shopping journeys.

Protect your customer data: frequently asked questions

With every interaction, every communication and every exchange of money, your customers generate data, which if it ends up in the wrong hands, can create endless problems.

Customers are the lifeblood of your brand. In trusting you with their information, customers trust you and expect you to keep it safe. Live up to the trust given to you. Protect her. And when cybercriminals target the people who keep your business alive, put tools and strategies in place to block every attack. To learn more about how you can protect customer data, check out  Salesforce Commerce Cloud  and give your customers the data security they deserve.