Information security professionals have been dealing with information security risks for decades, however, the rapid increase in the number of various kinds of cyber incidents that have occurred in recent years clearly demonstrates that the traditional approach to cyber risk management is no longer enough. The traditional model of the information security system simply ignores the realities of the modern era. Therefore, it is so important to shift the focus of attention of company leaders, towards solving problems of cyber risk management.
Today, virtually all support infrastructures use information technologies which in turn, play a decisive role in almost any company or startup infrastructure. Obviously, under these conditions, the importance of cybersecurity in modern society (especially, financial or banking industries, as well as gaming) is extremely increasing. Let’s get deeper and see other important aspects of cyber security in the gaming industry and discuss tips for the secure online casino.
Safety & Cyber Security Main Aspects
Although online casinos try to protect their players in the best possible way, in the modern world this is impossible to do fully. Therefore, players should take care of their own safety too. However, the philosophy of international testing agencies and organizations for the protection of players and game standards is based on ensuring player protection, fair play and responsible behavior by operators, software vendors and related service providers.
The international agencies say that their tests are provided for casinos software once or twice a year to ensure that payouts are fair, and more importantly, accurate. You can also find additional information about security on the casinos’ support or home pages, check copy about cyber security threats. All the complaints about a game or payment have to be properly addressed, if not you can ask official international agencies for help.
Today, cybersecurity has ceased to be a problem that worries IT and information security specialists:
- Cyber security incidents affect senior management and decisions made by top managers.
- Service consumers are also well aware of cyber security incidents and threats, which are of great concern to them.
- Managing cyber risks that threaten confidential information and systems is a top priority for most companies.
In short, it is difficult to name other issues related to the field of risk management, which are as pervasive as cybersecurity. Reports in the media about various incidents in the field of information security have taken commonplace.
Unfortunately, over the past years, every industry around the world has been hit by cyber threats of one kind or another. For example, there have been some reports in the press that gaming software systems and casino security have been under attack and hacked.
What Measures Can the Player Take for Safety?
First of all, all the online casinos must have fair payouts at rates, which is verified by independent auditors. Even if the casinos put all the forces to protect their users, it is not guaranteed that players will not face some issues. As such, players have to contact support and be guided by the following rules:
- Create strong, complex passwords when creating the account. When registering, it is best to create long passwords with unrelated upper and lower case letters, numbers, and special characters for each account. Change them regularly and do not tell anyone your pass. You can also use a password manager, it is a special utility that can create and store all your passwords. Also, be sure to disable the “save passwords” function in your browser.
- Install and use reliable antivirus software and firewall software and update it regularly.
- Use a VPN (Virtual Private Network). It allows you to create a secure connection to another network. A VPN can be used to access sites with limited regional access, protect your online activity from outsiders on a public Wi-Fi network, and much more.
- Check the site before visiting and the application before installing it on your device.
- You should also check if there is an “s” after “http” in the site address. If so, then the site is safe and you don’t have to worry about the safety of your data. And if not, then you should not trust such a site with your personal information.
- Update your operating systems, smartphone firmware and software on computers and mobile devices to the latest version, as they usually contain the latest vulnerabilities.
When a player cares about their online gaming security and chooses a reliable online casino, they can play and win in peace. Use only trusted and reliable sources to protect your data and money.
Is online gambling safe at all? When playing online games, you can choose reliable payment transactions. The services with great casino security usually offer the best methods and popular safe transactions to gamble online with peace in mind. For example, in Australia, you can use the Paysafecard famous online transactions. The system does not require any personal information. You can create an account and choose a 3 min deposit casino or another deposit option and get information about licensing, software providers, clients services and more.
What Awaits Us This Year & What Is Cyber Risk Management?
Cyber risk management in the online gambling industry is the coordinated management of the process of collecting, processing and analyzing operational information, as well as technological and financial and economic operations in order to ensure effective management of an organization’s information assets to prevent unwanted consequences. Sounds complicated at first glance.
In reality, it is the entire business process by which a business protects its vital assets and reputation from external and internal threats from individuals or organizations. Moreover, the process is not limited to technical measures. Any gambling company needs to consider cyber risk management as an integral part of managing its own business and controlling risks.
The ultimate goal of cyber risk management is to make a casino online organization more resilient to cybersecurity risks to the point where its systems and operations can provide the ability to detect cyber threats and respond to cyber attacks in order to minimize disruption to business operations as well as its financial losses.
Online gambling industry is regularly targeted by cybercriminals. A survey of global gambling industries by the International Organization of Securities found that more than half of services (~54%) were cyberattacks. In this regard, it is imperative to focus efforts on promptly detecting unauthorized access attempts and to develop effective and timely responses. To meet this challenge, casinos and gambling companies should:
- Rethink their security strategies, ensuring a closer link between technology, processes and talent on the one hand and the organization’s overall risk management activities on the other.
- Think of the main task of effective cybersecurity – to predict future sources of risk, as well as to search for and assess latent threats. Such sources and threats can arise as a result of the interaction of the corporate network with insecure third-party systems and the presence of insiders.
According to the forecasts of the research company Gartner, which were published by the Wall Street Journal, the cost of securing information systems worldwide will grow sharply, reaching billions of dollars. This year, spending on these purposes will increase by around 10%, showing another rapid growth.
Current State of Cyber Security
In the era of global digital transformation, the security of information systems is becoming a critical factor in stability and a necessary condition for the development of gaming and online casino business. Due to coronavirus restrictions, the activity of cybercriminals increased sharply and in the first quarter of the year, the number of cybercrimes increased by 84%.
In addition, the number of scams (online scams) has increased. Many gambling companies’ experts found almost a thousand scam resources, at the same time, the number of attempts to switch users to such sites was counted in millions. Attacks are becoming more advanced and difficult to define.
Cybercriminals can spend months in the IT infrastructure and go unnoticed. Attacks cause colossal damage, especially when it comes to critical information infrastructure, and are ranked 7th in the ranking of the most probable global threats. According to experts, the forecasted damage to the world economy from cyber attacks will amount to 8-10 trillion US dollars. Therefore, there is a growing need to:
- Modernize legacy systems,
- Introduce new defenses,
- Actively share threat intelligence with other organizations,
- Using new technologies as AI to provide safety.
Cyberspace has no borders, so effective protection is impossible without cross-sectoral and interagency cooperation, within the framework of such cooperation, openness, willingness to share information about potential threats and cases of successful attacks help to draw the right conclusions and prevent threats.
Public-private partnerships play a particularly important role in this. The online session for Cybersecurity Key Factors and Digital Security will provide answers to the following questions: How has the growth of cyber attacks due to the pandemic affected the resilience and security of IT infrastructure in key sectors of the gambling and financial sectors?
Final Tips and Thoughts
Today, the role of the regulator in the field of information security is shared by nine authorities and organizations, but the world is changing and becoming more digital, the number of cyber attacks is growing, and, perhaps, the time has come to discuss the management system both from the international countries and from large gambling businesses and online casinos digital industries? How to find a balance between government requirements for the protection of critical information infrastructure and the pace of development of digital technologies and gambling fields?
These all questions should be addressed in order to protect companies and users. However, the new technologies can help solve most of the issues. Thanks to that it would be possible to reduce security breaches and attacks, save money, provide automation of security processes, create a safe environment that reduces stress, easily update security policy and monitor online access.
Author Jason Copley
Jason Copley is an editor and blog writer who specializes in cyber security of the gambling field. He thinks that robust security can increase productivity and after all, when you worry about the time and money lost in the event of a breach, you can see immediately that implementing robust security protocols improves business performance in the long term. Each gambling company has to provide a safe environment for the players and think about security models.