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What is the ISO 27001 Certificate and Why Must Gambling Companies Have It?
By Shane Addinall Dec 06, 2023 LegalityExplore the critical importance of ISO 27001 certification in the iGaming industry, with Videoslots leading in data protection with its recent accreditation. Understand online gambling entities' global impact, benefits, and strategic significance.With the increase in online cyber attacks, it’s becoming crucial for online operators to protect their customers and sensitive data. In the pursuit of assessing and developing its security measures and management systems, online operator Videoslots has achieved the ISO 27001 certificate.
This article delves into the significance and benefits of this certification and the broader implications for the iGaming industry.
Videoslots Pursuit of Elevated Security Protocols
Videoslots, a prominent online operator, has recently secured the ISO 27001 certificate, fortifying its data protection measures against evolving cyber threats.
The CTP at Videoslots, David Alamango, emphasises the importance of ISO 27001, stating:
Quote"By attaining the ISO 27001 certification, we are keeping our data at the highest level of security, reinforcing trust in our brand, and bolstering our competitive advantage."
Achieving ISO 27001 means Videoslots complies with stringent international standards for its ISMS (Information Security Management Systems). This certification showcases Videoslot’s ability to recognise, control, and mitigate information security threats while adhering to regulatory and legal prerequisites.
eCOGRA’s ISO/IEC 27001 Accreditation
Through its certification and player protection initiatives, eCOGRA plays a crucial role in maintaining the integrity and credibility of the online gaming industry. As a specialist in online gambling, they are the first testing agency to have been awarded ISO/IEC 17021-1:2015 accreditation, enabling them to carry out third-party audits and accredited ISO 27001 certifications of ISMS.
ISO/IEC 27001 is an international ISMS standard that systematically manages sensitive company information and ensures data integrity, confidentiality, and availability. Below, we mention the key components the certification includes:
- Risk Assessment - Identifying and assessing information security risks
- Security Controls - Implementing security controls to mitigate the identified risks
- Management System - Establishing an ISMS to manage and oversee security processes
Several jurisdictions, including the Czech Republic, Denmark, Great Britain, and more, lean towards requiring ISO/IEC 27001 certification for iGaming license holders. This shift enables testing agencies like eCOGRA to expedite regulatory processes in less time, potentially saving license holders money and effort and a quicker time to market.
Benefits of ISO 27001 Certification
✓ Demonstration of Trust: Certification showcases trust and credibility to players and stakeholders, assuring that the protection of sensitive information adheres to internationally recognised standards.
✓ Cost Savings and Reputational Protection: Reduction in security incidents leads to cost savings and safeguards a company's reputation, offering a competitive edge in the market.
✓ Proactive Risk Management: An ISMS certified to ISO/IEC 27001 aids in consistently and proactively identifying security risks, enhancing an organisation's ability to manage or reduce them.
✓ Organisational Growth: Implementing an appropriate internal control environment will inevitably sustain and support organisational development, growth and longevity.
✓ Business Differentiator: Certification becomes a business differentiator, setting a company apart and creating a competitive advantage.
✓ Management Confidence: It instils confidence in management by providing third-party assurance that the organisation has processes to ensure integrity, confidentiality, and availability of information assets.
Securing the Future of iGaming
As Videoslots and other iGaming entities embrace the ISO 27001 certificate, the industry is witnessing a pivotal transformation towards enhanced security, trust, and credibility. Beyond compliance, this certification becomes a cornerstone for business success, offering a competitive edge and cost savings and reinforcing the commitment to data protection.
As stated by David Alamango:
Quote“ISO 27001 provides a solid foundation for us to innovate and expand our technological capabilities as we continue to push the boundaries of what is possible.”
The iGaming regulatory landscape keeps evolving, and ISO 27001 certification emerges as a requirement and a strategic imperative for operators seeking to thrive in the dynamic world of online gambling.
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