Recognizing How Digital Risk Management Can Aid Your Ecommerce Company

Digital Risk Management | Since the advent of the Internet, there have been numerous new industries that have been created which have significantly altered the economy. One of these pioneering fields is ecommerce, more colloquially known as online shopping. Millions of people around the globe run their own ecommerce businesses because it does not require much expertise and the main condition for success is hard work. As the industry has grown, it has become evident that cyber security is a major issue for ecommerce professionals. There is a multitude of sensitive data required for ecommerce businesses, from customer information to financial documentation, and much more. All of this data needs security, as there is a myriad of cyber criminals who prey on ecommerce companies. Understanding this fact allows you to recognize why your ecommerce company needs to protect itself from digital risk.     

Comprehending the numerous facets of digital risk is imperative if you want to know how to protect your ecommerce company. Digital risk is split into a few different categories: data loss detection, attack surface reduction, and defending online brand security. To engage in data loss detection, your company will need to frequently monitor exposed data. For attack surface reduction, you must protect your business’ IT infrastructure (such as weak and expiring certificates, open ports, and misconfigured file sharing protocols) from hackers. Finally, for defending online brand security, your business will have to check for impersonations of your brand on social media, such as fraudulent coupons and other fallacious entities, as well as other on platforms to ensure that no one is providing false claims about your company.

After knowing the numerous features of digital risk, it is imperative that you learn how to manage it. There are many tactics that your company can perform that will assist with digital risk management, and in order to ensure that your company is safe, you need to learn about these different methods. Your first step will be detecting your company’s critical business assets as well as determining the types of sensitive data your company has. With an ecommerce business, much of this will be customer financial data, but you need to find out about anything that could be a possible risk. You then assess potential pitfalls by figuring out what threat actors would attack at your company. Your business will want to monitor for unwanted exposure from a the open, deep, and dark web, from sources such as social media, file-sharing sites, criminal forums, and git repositories.

After acknowledging this aspect, you have to utilize proven methods to truly defend your company against digital risk. You will need to set up a tactical mitigation strategy – this entails removing duplicitous content from websites by reviewing social media, ISP abuse notifications, and legal notices that can provide you with tools for removal. You must also organize an operational mitigation strategy which utilizes a monitoring system to regularly observe your domain. Integrating a strategic mitigation program will also be valuable, as it measures and reports digital risk, which provides you with a report on your overall safety, ultimately providing you with your total exposure to digital risk.  

Ecommerce is a gigantic industry that is growing every year. Because so many people are ecommerce entrepreneurs, there are numerous cyber criminals who try to take advantage of these people by stealing their sensitive information. When running your ecommerce store, you need to understand the serious threat imposed by your digital risk, and learn how to effectively manage it.

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