E-identity, Security & Online Fraud

ThreatMetrix taps into the online gaming market to protect it from cybercrime

Thursday 6 March 2014 | 01:40 PM CET

ThreatMetrix, an US provider of integrated cybercrime prevention solutions, has entered into the online gaming market to protect casinos and consumers from cybercrime.

Following the move, ThreatMetrix will use its Global Trust Intelligence Network (The Network) to protect casinos and gamers against payment fraud, account takeover and other suspicious activities. The Network processes and analyzes more than 500 million monthly transactions, 160 million active user accounts, 2,500 customers and 10,000 websites. Analytics evaluate logins, payments and new account registrations for validity, enabling ThreatMetrix to authorize legitimate transactions and flag potential threats without negatively impacting the customer experience.

Internet gambling is expected to garner up to USD 300 million for New Jersey casinos and USD 45 million in tax revenue by the end of its first year. In addition, total worth of the US online gambling industry is projected to reach USD 9 billion in the next five years if large states such as California pass legislation to allow it. While online gambling was just legalized in New Jersey in November 2013, eight states currently have legislation pending that will permit it and several other states are considering lifting their bans.

ThreatMetrix recently became a registered vendor with the New Jersey Division of Gaming Enforcement, enabling the provider to conduct business with casinos in Atlantic City.

Internet gaming incurs risks similar to other online businesses, such as ecommerce and financial services websites, but also faces some unique challenges. The most prominent cybercrime risks casinos face include:
• Payment Fraud – Stolen credit card information is used to gamble online.
• Account Takeover – Cybercriminals install malware to steal log in information and sign in using an authentic player’s credentials.

ThreatMetrix serves a global customer base across a variety of industries, including financial services, e-commerce, payments, social networks, government and healthcare.

For more information about ThreatMetrix, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.

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