The projected monetary growth of the online gaming industry is over $20 billion dollars from 2015 to 2020. As casinos and gambling software developers scale for this growth, they need to ensure software is flexible, secure, and meets government regulations. However, researchers predict online gaming is the next industry to be plagued by security risks, putting both users and businesses in a difficult situation. No matter the size of your business, there are a plethora of security risks to consider. Here are some of the biggest concerns specialists are currently facing.
Insecure Code and Hacking
Hacking: It’s been around for years, we’re ready for it, right? Well, hackers have become much more sophisticated when it comes to penetrating online gaming software. In 2016, The Verge reported an “out-of-band” attack on the Gaming Professionals Webmaster Association compromised 2,500 gambling sites at once. An ad injection worked by answering a server request after a customer clicked on an ad. Therefore, reviewing server logs isn’t what alerted GPWA to the attack. Instead, they noticed some of the responses the server was sending had affiliate tags that would generate money based on the sites’ referrals. The most mysterious part is that the amount of income was relatively small compared to all the trouble, but the identity of the hacker is still unknown. Security testing can reveal these chinks in the armor of a site or software and allow you to repair them, or at least form a plan of response.
For licensed gambling sites, money laundering isn’t much of a security concern, since they generally follow the anti-money-laundering guidelines established by their regional government. However, unlicensed sites provide an opportunity for criminals to convert money into bitcoins through winnings, or even to transmit funds to a seller via a gambling win. The sheer number of online casinos and the various different mediums to digitally exchange money means that these parties can operate largely unknown. This is why regulations like monitoring transactions over a certain dollar amount or requiring that user funds be deposited through a certified bank are good security practices for any online gaming site.
The online gaming industry is subject to many ever-changing government regulations. If you’re operating multiple casinos or sites headquartered in different jurisdictions, licensing and the associated necessary compliance documentation can be difficult. Cloud solutions can certainly help keep everyone organized. While the needs of each business are different. luckily the rules they must comply with are the same, so third-party experts can provide valuable perspective when business leaders need it most.
Finding the right partner to test and monitor your online gaming business can be a challenge. You need someone with experience, finesse, and knowledge who can quietly and effectively solve problems before they shut down your entire operation. Contact iLAB today for more information about our online gaming security services and let us keep you up and running so you can keep your customers happy.