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Understanding E-Commerce Risks

Perhaps we see the great proliferation of electronic commerce and its widespread use around the world. Therefore, the project of establishing an e-commerce project is very successful, but if you would like to enter this field you should know that e-commerce risks and should avoid them when you set up an e-commerce site and the major institutions that work in this area to avoid.

E-Commerce Risks

ecommerce risks

Phishing

It is an attempt to steal and capture customer data such as user name, password, and credit card details by disguising the image of a trusted entity and communicating electronically to the site.  Phishing emails usually appear to come from a well-known organization and ask for your personal information such as credit card number, social security number, account number or password. it has many types as follow:

  • Deceptive Phishing. 
  • credentials. 
  • Spear Phishing. 
  • CEO Fraud. 
  • Pharming. 
  • Dropbox Phishing. 
  • Google Docs Phishing.

You may meet phishing and don’t Know it so as follow some signs of phishing e-mail:

  • Unofficial “From” address. 
  • Urgent action required. 
  • Link to a fake web site. 
  • Check the Web address.
  • Be leery of pop-ups. 
  • Give a fake password. 
  • Use a Web browser with antiphishing detection. 
  • Be wary of other methods to identify a legitimate site.

Unprotected Online Services

Privacy and security in e-commerce are very important through some protocols that guide e-commerce transactions safely. There must be strict security requirements to protect companies from threats such as credit card fraud, or they may threaten revenue and customer confidence, due to their inability to ensure secure handling of credit cards.

You may want to make your e-commerce website safe, so you should read the following tips to make it safe:

  • Make sure your e-commerce platform has multi-layered security.
  • Monitor all transactions.
  • Deploy regular PCI scans and updates.
  • Utilize the Address Verification System.
  • Require a CVV.
  • Require stronger passwords.
  • Use SSL certificates to facilitate a secure connection.
  • Choose a hosting provider that is PCI compliant.
  • Make sure your platform protects against DoS/DDoS attacks.

Credit Card Fraud

Theft and fraud on credit cards may be one of the biggest risks faced by the e-commerce site. Fraud-credit cards are a credit card or debit card, as a fraudulent source of money in a package. The purpose may be to obtain goods without paying or obtaining unauthorized funds from an account. there are many common of credit card fraud:

  • Application Fraud. 
  • Electronic or Manual Credit Card Imprints. 
  • CNP (Card Not Present) Fraud. 
  • Counterfeit Card Fraud. 
  • Lost and Stolen Card Fraud. 
  • Card ID Theft. 
  • Mail Non-Receipt Card Fraud.
  • Assumed Identity.
  •  Doctored Cards.
  • Fake Cards.
  • Account Takeover.
Hacking
It is one of the serious risks of e-commerce. e-commerce websites should worry about the safety of their website more than others. The main thing every business cares about is its’ reputation. People should trust you, or no one will purchase anything from your website. If users see any suspicious ad or banner on your website that will immediately arouse suspicion. If users’ antivirus or browser will warn them about malicious content on your website, they will probably leave your website and will not return. you can avoid hacking your e-commerce website:
  • Maintain your PCI compliance.
  • Don’t collect or store sensitive data.
  • Make sure your e-commerce platform is updated.
  • Demand strong passwords.
  • Set up an alert system for suspicious behavior.
  • Use encryption.
  • Layer your security.
  • Train your employees.
  • Monitor and scan your website.
  • Backup your data regularly.
  • Stay informed.

Data Errors

E-commerce website may interface data errors. while it’s hard to predict problems, there are certain common e-commerce problems Some of these errors we will explain here:

  • Choosing the wrong e-commerce shopping cart.
  • Not making sure your site is secure.
  • Unintuitive or cumbersome site navigation.
  • Bad or no search capability.
  • Poor images/photography.
  • Using stock product descriptions.
  • Having a confusing or lengthy checkout process.
  • Having only one shipping option and/or carrier.
  • Not having a mobile or mobile-optimized version of your e-commerce site.
  • Not making content easily shareable on social media, especially on Pinterest.
  • Making it hard to contact you, the seller.

 

 

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