To run a global e-commerce business, you must navigate turbulence and meet minimum security requirements. Protecting customer information is your responsibility as a store owner. Using security measures and staying up-to-date with the latest protocols builds trust with customers and guides your brand to long-term success!
Implementing security measures and staying current with the latest protocols is crucial to avoid financial losses, lost sales, and damage to your brand. However, this can be complex, and not everyone is equipped to handle it. CINNOX, a total experience platform, can ensure the IT and infrastructure security of your e-commerce operations.
What is e-commerce IT and infrastructure security?
E-commerce IT and infrastructure security refer to the measures taken to protect an e-commerce business's online systems, data, and customers against cyber criminals. It is critical to have a solid security foundation to become a reliable online brand, and to safeguard sensitive information from unauthorised access or leaks.
As e-commerce sales soar, online retail sales globally are expected to exceed $7.4 trillion by 2025. To keep up with the fast-changing e-commerce market and maintain customer trust, online businesses need to prioritise cybersecurity and build a reliable tech stack that safeguards sensitive information and defends against online threats.
Why should you worry about e-commerce security?
Online security is a concern for any business that engages in the online selling and buying of goods and services. Building a strong foundation of e-commerce security practices not only safeguards customer trust but also ensures long-term success in the global e-commerce business, making your brand seen as dependable.
Unfortunately, e-commerce websites are a rich treasure trove of data, sensitive information, and money. And exploiting e-commerce security weaknesses is a lucrative business for bad actors! In 2021, 50% of all cyber-attacks were done on SMBs, who may perhaps lack the technical and financial resources of much larger MNCs.
Financial fraud is a common e-commerce security threat, with credit card fraud being the most common. Others, such as social engineering attacks, compromise credentials, personal data, and internal data. Cloud security incidents have also been rising, with 80% of companies experiencing at least one cloud security incident in 2021.
What are some e-commerce security requirements?
To meet minimum security requirements for e-commerce, you must take necessary steps such as implementing anti-virus software, firewalls, and encryption protocols to protect data. Additionally, regular password updates, security training, and fraud-checking and virus protection software are necessary. Maintaining confidentiality and ensuring secure payment transactions are also vital parts of e-commerce security.
In addition, here are some industry security standards that e-commerce stores should follow or risk heavy fines and penalties:
1. PCI DSS compliance. Payment Card Industry Data Security Standard is a set of security requirements that all merchants accepting credit card payments must follow. Failure to comply with these standards can lead to legal action and significant fines.
2. GDPR compliance. General Data Protection Regulation is a law that protects the personal information of people in the EU. You need to ask for permission to collect and use their data, and let them access, correct or delete it. Not following GDPR can lead to large fines and harm your business's reputation.
How can you meet e-commerce security requirements?
It can be difficult for e-commerce businesses without cybersecurity expertise to meet and maintain the basic security requirements. However, complying with minimum security requirements for each application in the tech stack can lessen the burden and allow you to focus on business operations and customer satisfaction.
Here's how consolidating customer and employee experiences on a platform like CINNOX provides several advantages:
1. Data privacy
To ensure secure acceptance, processing, storage, or transmission of credit card information, CINNOX adheres to the PCI DSS. This certification is based on six standards, including secure networks, data protection, access control, network monitoring, vulnerability management, and an information security policy.
Moreover, CINNOX follows GDPR by keeping personal data in secure and appropriate locations, collecting only essential data, maintaining a clear and straightforward policy, and allowing customers to modify or erase their data. CINNOX also has a process to promptly notify customers in case of a data breach.
2. Application security
CINNOX understands the value of ISO certifications and how they can give SMBs the confidence to unlock the potential of digital transformation. To ensure the security of small businesses' operations in the cloud, CINNOX is certified for ISO 27001 and ISO 27017, helping SMBs safeguard their data and protect them against cyber threats.
To do this, security features are provided to manage internal data access, including customised staff accounts with permissions, multi-factor authentication, account suspension, and usage monitoring. Additionally, billing reports are audited, and there is an audit trail and export feature for security information and event management (SIEM).
3. Network security
CINNOX's web widget assigns a unique domain and service ID to each customer, which authorises them on their first visit, but checks their identity on subsequent visits. The system generates a unique token for each visit, preventing customer data theft through browsers. This token expires after use, ensuring that the session cannot be hijacked.
For web calls, CINNOX uses VoIP for secure, reliable, and clear calls. Its Opus feature offers high-quality calls with minimal Internet bandwidth consumption. Encryption is also used to protect calls and data. The system has anti-fraud measures, blocks spam calls, and also creates a unique account for each call to ensure security.
CINNOX's security operations centre (SOC) team, with security certifications and multiple tiers, monitors alarms and sends reports to the next tier for investigation and action. SIEM is used to prevent identity theft and block incidents, taking action such as stopping hackers and conducting forensic processes. It runs 24/7 for maximum security.
4. Reliable infrastructure
Small and medium-sized businesses often struggle with building and maintaining their IT infrastructure. That's why they rely on partners like CINNOX, a provider offering ISO 9001 certified products and services. With ISO 20000 certification, CINNOX efficiently manages its IT services to provide exceptional customer support, helping SMBs keep their businesses running smoothly.
CINNOX regularly plans their reliable and secure infrastructure to meet industry standards and business needs. Multiple data centres are utilised that comply with ISO standards, plus public clouds are used that follow local regulations to provide better service and safeguard their clients' data.
Security is vital for e-commerce success
CINNOX offers security features and certifications for e-commerce businesses to succeed in the growing popularity of online shopping and increasing cyber threats. By partnering with CINNOX, businesses can ensure secure and reliable e-commerce operations with the latest security protocols to navigate online security challenges.