From malicious attacks to stolen account details, the iGaming industry is facing multiple cybersecurity threats in 2024. By nature, online players tend to trust the gaming software operator with sensitive personal information that allows them to spend money on in-game assets. This valuable information draws the attention of hackers and other malicious attackers who exploit security vulnerabilities in different systems to intercept the data.
Cybersecurity attacks lead to service interruption and may damage a company’s reputation, affecting them financially. That highlights the importance of sophisticated cybersecurity protocols to limit currency and data theft. Here’s a closer look at why cyber security is a critical factor for gaming operators online.
The stakes are high
From live games at platforms like Betway to multiplayer titles, online gaming operators collect vast amounts of personally identifying data and credit card information from gamers. This highly coveted data attracts the attention of hackers and it’s the responsibility of the online gaming industry to protect their platforms to give players a safe gaming environment.
As evidenced by the retail and banking sectors, the impact of data breaches can be far-extending. Besides making players vulnerable by disclosing their personal information, online gaming companies are also at risk of reputational damage and financial loss.
Privacy and data protection policies are also becoming strict to protect players, gaming companies, taxpayers, and financial institutions. For example, gaming operators like Betway must comply with the data security standards set by the global Payment Card Industry, requiring the players’ credit card information to be kept secure.
Protecting the industry with cybersecurity protocols
Recent checks show that several large gaming platforms have multiple vulnerabilities that leave the customers’ data vulnerable. Hackers are also constantly improving their strategies to breach different gaming systems online.
In a world where fraudsters are getting bolder and smarter, online gaming companies must invest in the right cybersecurity measures. The gaming industry must adopt innovative cybersecurity measures throughout their entire lifecycle, from game development and deployment to the platforms on which they are used on.
Here are several high-level guidelines the online gaming industry can leverage for better security assurance:
- Enable multi-factor authentication for protection against identity theft.
- Ensure the confidentiality of databases to safeguard sensitive customer information from unauthorized parties.
- Protect against DoS and DDoS cyber attacks that disrupt the gaming experience by breaking connectivity.
- Protect against phishing that happens through the messaging features included in different games.
- Ensure strict security measures are embedded in the whole lifecycle from game development to release campaigns and marketing.
A safe gaming environment
In the end, people play online games for their entertainment value. As such, if this favorite pastime threatens their reputational and financial well-being, they tend to stay away from it and look for other safe entertainment methods. To prevent these scenarios, the iGaming market must ensure they integrate the latest cybersecurity measures in their software, networks, and hardware to make it hard for attackers to get control of any sensitive information.