Within recent years there has been a huge surge in E-commerce retailers and while this enables companies to expand their markets, it also offers greater risk for data breaches. While cyber security is important throughout the entire year, never is it more important to ensure Secure Data transmissions than during tax season. Whether transmitting files to your accountant or records to the IRS, any digital transmission is susceptible to attack without the latest cyber security measures. As a business owner, it is in your company’s best interest to understand why data security is so important for E-commerce businesses.

E-commerce Is Open to Attacks on Several Fronts

Does it sound like you are at war? In reality, any E-commerce concern is going to be at war on several fronts. You will find that you are most vulnerable to data security threats from:

  • Hackers
  • Phishing attacks
  • Unprotected online service providers
  • Credit card fraud

Each of these poses a huge threat to your E-commerce site and this is why you should contract the latest and best data security team available.

A Few Statistics to Keep in Mind

When conducting online retail sales, perhaps the biggest threat of all will be credit card fraud, but each of the other potential threats are just as significant. Bear in mind that at least one in every five online retailers falls prey to cyber criminals each year and a huge percentage of those will be driven out of business as a result. Second to credit card fraud is hacking, and this can have very serious consequences both to your business and the sensitive data uploaded to your site by customers and suppliers.

Learn from the Ashley Madison Data Breach

If you want to understand just how huge an impact one single data breach attack can have on your business and clients/customers, look at what happened just a few short years ago to the Ashley Madison cheating site. While many people believe the site deserved to be hacked simply because of what it was all about, that doesn’t mean that the information should have been left vulnerable to attack. Everyone has the right to privacy and that single attack released to the press was enough to cause multiple lawsuits, ultimately leading to the demise of the site. Then there was the personal cost to all those ‘clients’ and their families.

Key Takeaway

No matter what your personal feelings in relation to Ashley Madison, the point is well taken. Internet security is an absolute must if you are conducting business online. It is important to remember that one single attack can literally destroy your brand. If you don’t want to lose everything you’ve worked so hard to build, always ensure that you have the latest security on your local machine as well as a service provider with the highest level of security as well. You’ve worked hard to build an E-commerce site so don’t you think it’s worth the small expense of keeping everything from client records to company information safe from attack?