None of us like to think too much about cybersecurity – it’s boring, right? But honestly, in today’s world, that’s just not a viable attitude. Why?
One really simple reason: it’s constantly rising – and really rising. Cybercrime could cost $10.5 trillion by 2025.
Take a moment to process that number. It’s staggering. Cybercrime is a vast, global, and enormously challenging problem that almost all businesses these days are affected by to some extent (since pretty much all of them operate online these days, even if only in small ways).
So, the response, naturally, is to tighten up security. Those annoying websites that insist passwords must be 14 characters long with X numbers of capitals, symbols, and more? Yes, they are aiming to prevent cybercrime, and yes, we should stop being annoyed because that ultimately protects us and our information. Instead, we’ve got to step up our game… but how?
We all love learning by example, so let’s take a look at what the best-in-class are doing to ratchet up cybersecurity in today’s world, where it feels like criminals are lurking behind every mouse click.
AI Fraud Detection
Yes, a lot of people are throwing around “AI” almost like a buzzword at the moment, but it’s enormously important in the world of fraud detection. Why?
Because AI is capable of dealing with absolutely massive stacks of data, that means it can spot trends fast – and break in those trends equally fast. When something changes, it could mean that there’s something suspicious going on, and that’s the first step in catching and preventing cyber criminals.
So how does this play out in practice? Let’s take an online casino in Canada as an example: using an AI program, they can learn about how their users typically behave, and what behavior looks out of the ordinary. When the program detects a change in behavior, it can send up a flag for the casino to investigate further – or, if it looks serious, perhaps even freeze the account.
This kind of constant surveillance and fast action, when something looks wrong, is a really good demonstration of just how AI – and savvy businesses that implement it correctly – can help us buff up our cybersecurity in the coming months and years. Sure, it’s not perfect, but it’s a seriously powerful tool.
Bumping Up Awareness
That’s the machines taken care of – what about the people? We all know that it’s not just about what a computer can do: they need an intelligent being acting behind them to make sure those decisions are actually good ones (and not super frustrating to users who just want to relax and play some blackjack!). But staff can only do that if they’ve been trained.
That’s why the best casinos are investing a lot of money into training their staff to spot fraud and criminal activity as fast as possible! And that’s a lot harder online – we like to imagine a sneaky cyber thief creeping around the digital casino with an exaggerated walk, but that’s just not the reality. Staff have therefore got to undergo some serious training on both how to spot cyber fraud and how to respond to it.
What’s more, this has to be constantly updated. Cybercrime is moving fast, so a good casino has to move faster!
Fortunately, reputable casinos are well aware of this and keep a pretty good hold on regular training, swift detection, and appropriate responses – meaning that they enjoy all the benefits of a good reputation that comes with strong security. It’s a benefit well-deserved, because a whole lot of hard work goes into it!
Turning To Crypto
Not all the casinos are looking at this space, but enough are that it’s totally worth mentioning. Crypto is sometimes seen as the ultimate foe of the cybercriminal. Why?
Because crypto’s pretty much unhackable, at least right now, and the blockchain means that there’s a public record anybody can check that shows all the transactions. That’s about as secure as it comes.
Players who focus on this kind of thing know that they’re safer when they play with crypto than when they use traditional funds, and a lot feel happier linking up an e-wallet than their bank account anyway. When you add in other benefits like speed and anonymity, crypto feels like a bit of a no-brainer for the security-conscious casino.
Wrap Up
Those three aren’t the only tools of a reputable casino when it comes to keeping the hackers at bay – they also employ lots of techniques like firewalls and SSL encryption (sometimes even military grade).
That, combined with tactics to bump up user awareness – that “don’t share your password with anyone” reminder – can be effective in tackling cybercrime.
There’s no “perfect” solution to all this, but casinos are a pretty impressive example of what happens when businesses take cybersecurity seriously: it’s admirable.
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