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New iGaming Expert Group Focuses on Cyber Security
By Shane Addinall Mar 27, 2022 IndustryWith the increased popularity of online gambling, criminals turn their focus to the highly lucrative fraudulent opportunities the industry offers. EGBA and their members combine powers to stop cybercriminals in their tracks.The European Gaming and Betting Association (EGBA) gathered their most skilled cyber security members to tackle the growing risk of cybercrime in igaming. EGBA’s new expert group supports and coordinates protocols to counter cyber threats and attacks, according to an official report from the trade association.
Statistics published by the cyber security firm, Imperva, show that during 2020, automated cyber threats accounted for 28% of all online gambling traffic worldwide. The data revealed how sports betting is a major target for cybercriminals, particularly during events like the European Championships.
EGBA aims for an extended network, crossing continental borders to include non-members. The Brussels-based association points out how gambling platforms are a lucrative target for cyber-crimes.
Network of Experts Sharing Intelligence
EGBA’s group of experts will enable a communication network between members of the trade association, focusing on the latest cyber security threats against casino and sportsbook platforms. By enabling a sharing system between EGBA members, the group seeks to get ahead of attacks. With intelligence on the latest threats and attacks, the experts will encourage cooperation for incident tracking and sharing solutions.
Shared intelligence positions the experts and members to identify and resolve possible vulnerabilities by designing and implementing best practices for cyber security. EGBA chose experts from their pool of skilled members who prevented over 550 major cyber-attacks aimed at European platforms during 2019.
The group encourages cross-border and industry collaboration to create a safer industry for all. Secretary-General of the EGBA, Maarten Haijer, said:
“Cybercriminals are increasingly determined and sophisticated in their efforts to try to hack into gambling websites to steal customer data and money. Cyber threats tend to be cross-border in nature, affect operators in the same ways, and are a common threat to the industry. That’s why it is crucially important that operators work closely together.”
Although the expert group comprises EGBA members, external operators, and stakeholders in igaming may participate. Non-EGBA participants need to comply with certain principles to ensure the highest security standards.
Cyber Crimes in Online Gambling
Online gambling websites have several vulnerabilities, according to the EGBA and cyber security experts. Gambling platforms became increasingly attractive to cybercriminals because of the personal data they store and their access to money.
Cyber-attacks specifically mentioned as points of concern for online gambling platforms include Distributed Denial-of-Services (DDos) where hackers cause the platform to become slow and unresponsive by flooding it with artificial traffic. These attacks have massive implications for real-time gaming like in-play betting, and the poor customer experience leads to the loss of customers. EGBA members recorded gross gaming revenues in sports betting of €2.3 billion in 2020, solely generated from in-play betting.
Other attacks causing havoc for operators are Account Takeover (ATO) and Odds / Price Scraping. ATO attacks are the biggest threat to gambling operators, as these bad bots mimic legitimate logins and gain access to customer accounts. These attacks usually lead to major data theft and loss of players’ money. Odds scraping is an industry-specific issue where bad bots get valuable insights for criminals to predict betting results more accurately. Unscrupulous operators sometimes use this against competitors.
Reaching an Understanding
EGBA’s new expert group comprises cyber security experts from a few of the association’s member platforms. Participants receive a Memorandum of Understanding for clarity on the scope and type of data to be shared. The group will work towards early detection and responses to cyber threats, strengthen individual and common security practices, and prevent malicious activities on customer data.
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