As the iGaming industry grows rapidly, it becomes the new profitable source for cybercriminals. Hackers know how fruitful is this industry, and they hunt for your every mistake to target you and your players.
Unfortunately, still many online casino software businesses ignore the importance of cybersecurity. However, ignoring the security norms can cause irreversible issues both for you and your players. We’ve gathered the main reasons why cybersecurity is essential for your iGaming platform. Let’s see what attacks you can face if you ignore security measurements.
Types of Cyber Attacks
1. Game Integrity
Games are the backbone of every successful casino. Your casino is only good if its games are good. And hackers know about this. That’s why the number one target for cybercriminals will be your games. They can attack your games in several ways.
One of the most widespread cyber attacks is manipulating your game system to get profits from them. This will cause significant financial losses for your business and make you untrustworthy to your players. If they see that your game system is not working correctly, they won’t ever play your games again.
2. Data Theft
Your players provide sensitive information to your platform. It’s not only personal data but also financial. This makes gambling platforms especially fruitful for cybercriminals.
If you’re not paying attention, you put your players in immense danger. Hackers can steal your database and sell it on the dark web. They can even perform identity theft and make fraud attacks with this data.
3. Hijacking Accounts
Data theft is not the only danger hackers present for your players. They can also hack your users’ accounts and take damaging actions.
The most popular ways criminals use players’ accounts are by making withdrawals or playing on behalf of the user’s account. This attack is crucial for your platform, especially if you don’t stop and compensate for it quickly. It damages your platform’s reputation and can cause a significant loss of customers.
4. Fraud and Money Laundering
Last but not least, cyberattacks are related to fraud and money laundering. Many criminals use online casinos to play with fake accounts with stolen credit cards. Money laundering is even more damaging for your platform. They can make illegal activities by transferring funds to your platform and withdrawing them as clean money.
Securing yourself from this attack is even more difficult because it can come from players themselves. Many online casinos have received penalties and even closed down for not following anti-money standards. So, you have to pay closer attention to your financial procedure and make sure that the source of this income and legal.
As profitable as a market is, the gambling industry is also very vulnerable to cyberattacks. Many hackers know how good of a target is your platform. It has a vast database of your players’ personal information and big financial data. So, now that you know how many types of attacks you may face, we hope you’ll pay closer attention to your website security. After all, cyber-attacks are damaging not only to your players but also to the reputation of your business.