E-commerce is the ultimate answer to the enhancement of trade and business in today’s world. With the whole concept of sales, marketing and services coming to the fingertips, theE-commerce industry is rapidly flourishing and booming with success. While this has been a key benefit in imparting success and speed to business transactions across the globe, the services have come with strings attached.
There has been a rapid increase in cyber crimes and identity theft over the web in recent years. So much so that it is very important to maintain the right quota of security essentials while working on business transactions of any sort. Therefore, whether you are a customer or a vendor; it is important to learn the basics of personal security over the web so that you can take advantage of the benefits in E-Commerce without burning a hole in your pocket.
Major Threats to E-Commerce Industry
While the E-commerce industry brings speed and functionality to your fingertips, some of the perils involved in online dealings that often lead to fraud and cyber crimes are:
· Cracking user passwords by scanning through data and employing thousands of commonly used phrases and combinations to guess the password.
· Using Trojans to monitor the activity between servers and customers.
· Using Packet sniffing techniques to extract credit card information and transaction details.
· Fake web servers and customers attempting to forage into the services and leading to breach of secure information.
While these threats are constantly evolving and may prove to be highly hazardous to businesses and customers alike, there are specific remedies and protective measures that one can take in order to prevent any monetary loss or data theft. These include optimum encryption and authentication using digital signatures and SSL certificates, and hashing techniques to keep the data safe over a database.
What are SSL Certificates?
SSL stands for Secure Socket Layer. Generally, when the data communication is done peer to peer or through TCP/IP sockets, there is an increased chance of hacking and breach ofsecurity. This is because hackers can use packet monitoring mechanisms to monitor the activity of transactions, devise the pattern of communication and extract sensitive information. Therefore, in order to maintain security and privacy during E-commerce transactions, the files are encrypted or coded in such a way that only the intended sender and recipient can have access to it.
This is done by assigning a unique digital signature and key to only the sender and the recipient, so that only they can make the transaction without any chances of theft and forgery. Once the signature and key are verified, a certificate is issued to both the recipients and sensitive information such as credit card details can be transferred over the net with reduced chances of hacking.
Hence, the use of SSL certificates ensures integrity and authenticity in E-commerce transactions.
Managing Database Security
While it is one thing to manage and perform secure and private transaction, keeping the information safe after it has been acquired is a more crucial task. Often it has been encountered that credit card data and user information has been leaked out and resulted in identity theft and loss of revenue for users. This practice has made more and more people wary of sharing their private information over the web because of the enhanced methods of hacking and security breach becoming common nowadays.
While conventional databases such as MySQL offer security and privacy to users, it is always a good idea to incorporate additional security measures, such as hash coding, passwords and encryption to the information stock hold. The use of firewalls also prevents unauthorized access to the server database and hence ensures transparent transaction as well as safe storage of data for E-commerce ventures.
Hence, if you are looking to plunge into your business using the E-commerce strategy, it is advisable to learn the finer details of security essentials before you start. This way you can earn maximum benefit and reduce any chances of fraud and theft.