Gambling is betting or wagering that will result either in gain or unfortunately in loss. Gambling is not taking a risk for example speculation or something similar. It is neither investigating nor acquiring property for securing long term capital gains. We can not relate gambling with insurance either because it is not reducing or eliminating the risk of loss but again it offers no legitimate chance gaining.
Unfortunately we are living in an age of remarkable cybercrime. Large scale of data is breaching. This data contains worrying regularity, with exposing the consumers to a high level risk of fraud and also identity theft. This is placing the corporations and also the private documents under constant threat.
In meanwhile the security experts are doing their best to stamp down on cybercrime, the scale of many operations is now mind-blowing. Different Malware and viruses are leading to tons of computers quietly running their software in background, giving the hackers crucial computing powers that can be deployed to crash systems and compromise security. Gambling accounts include email addresses and other important identifying data that can be used for fraudulent purposes of course. Often these are used for regular transactions and with that they are constant target to be compromised.
The Companies must protect their customers personal data collected in proportion to its sensitivity, and be particularly attentive to information security. The data that is collected is high level sensitive, that means that a data breach could have a serious adverse on the reputation and also effect on their entire business. If the Gambling operators and firm are not going to protect the data, or will fail to take it seriously the protection needed can face several sets of regulators beating a path to their door. Something even worse that can happen for them are the customers, they will flee and share prices will plummet.
Names, addresses, passwords and account details are hold by the Gambling companies. They are holding details of payments and bank accounts information about a person’s gambling history. Any company that will allow the personal data to be exposed to the world could struggle to regain users’ trust, and in this world that we live now we are aware that, that is almost impossible. The Company would be then in a big trouble, without even the single regulator law of enforcement agency is involved yet.
Here comes the question on how the Companies can protect themselves and their customers?
What can be done in order this scenarios to be avoided?
The most obvious thing that needs to be done in this situation is to protect all the personal data that has been collected. Something that nowadays Gambling Firms are practicing in order to increase their security. Investing in secure systems is also trend nowadays. Not just trend but it represents an inevitable part of their work. Ensuring the processes are sound.
Not just the companies that are using portable mediaface with the risk. Operators who are online are vulnerable to attacks too.
Training the staff is another step that the firms are taking in order to increase their security. Making sure the level of data protection expertise is on the same level as their role is really important. Updating the training so they can meet the needs from what is expected of them.
If the market covers many countries, the standards of the most rigorous regime are applied, because then the risk is even higher. Also customers will not be pleased when seeing other people are treated only because of where they are from.
The gambling operator is facing many concerns, and also many systems need to be oversee. Protecting the database of customer details maybe is not seeing as deserved of a place at the top of priority lists, but here come the consequences of the breach that can be truly significant.
Another trend is the matching of video with the objects tracking and also other data from the players and staff in order to highlight the situations that may not be obvious on first place.
In one year or maybe two, the people in the industry are hopeful that data analysis tools will be able to track the behaviour and motions of dealers to spot any kind of deviations from the normal and everyday procedure, and alert with messages accordingly.
The biggest risk to one firm is of course the reputation, and not regulatory. In this fast and moving competitive market, there are plenty of other operators that take your place in seconds waiting to pick up disenchanted customers in the wake of a security breach. That is yet the crucial reason the gambling firms are really concerned with the security and taking all of the necessary steps in order to provide to their customers safety and security on high levels.