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The recent cyber attacks against MGM Resorts, Caesars Entertainment and other companies have reminded the world of the impact that a group of intelligent hackers can make on even the largest enterprises.
After these attacks, IGSA has pledged to address the growing threat of cyberattacks through the creation of the Cyber Resiliency Committee.
The committee, which is supported by gaming giants like Aristocrat Technologies and Light & Wonder, will set guidelines for cybersecurity, cyber risk management, and framework control criteria.
The IGSA will use the expertise of its members to develop a set standards that is actionable and current, while taking into consideration the latest technologies, as well as the challenges facing UK Online Casinos, Betting Sites, and other iGaming industries.
Cyber threats: Addressing them
The casino industry is a lucrative target for cybercriminals. It is believed that the hackers who are behind MGM Resorts, and Ceasars Entertainment, also orchestrated 52 other attacks in various sectors.
Casinos are not only a place to deposit a lot of money, but they also hold an enormous amount of financial and personal data. Caesars reportedly paid millions to recover their data during the latest round of attacks.
MGM Resorts has been affected at several operational levels including hotel key cards, check-ins, slot machines, and ATMs.
Cyber threats are a major concern for online casinos. They are built completely from digital infrastructures. DDoS attacks are common. They flood the website with traffic, or send data to the site causing a crash. This disrupts services and damages the reputation of the target.
Building a Cyber Infrastructure that is Resilient
The IGSA CRC committee’s creation is proof that this industry takes these threats seriously. By cooperating and creating alliances, the gaming and online casino sector can exchange resources and share threat intelligence to safeguard against multi-targeted, well-organized attacks.
Audits are another method to stop unauthorized access to sensitive systems. Penetration tests, which involve a simulated attack by ethical, professional hackers, are a popular way for companies to evaluate their cybersecurity systems.
Social engineering is used in some cyberattacks such as that recently perpetrated on MGM Resorts. Social engineering is the use of “human errors” to gain access a computer system, or bypass multi-factor authentication.
It can include techniques like phishing or baiting. In some cases, it may even involve contacting the help desk of a company to find out login information.
Cybercriminals who are well-versed in their craft can be convincing, and they have the information necessary to avoid the perception of suspicious activity. Training employees can reduce the risks of human error that hackers use to gain access to targeted systems.
Cyber warfare is also a threat that users should be aware of. There are a number of strategies to ensure safer online conduct. These include using certified providers, creating secure passwords and updating gaming platforms regularly.
