New security company for U.S. online gambling market

The San Jose, California-based online security company ThreatMetrix has announced its entry into the world of online gambling, offering its context-based security and advanced fraud prevention solutions to operators.

The company recently became a registered vendor with the New Jersey Division of Gaming Enforcement, empowering it to conduct business with casinos in Atlantic City.

“ThreatMetrix is uniquely positioned to serve the online gaming market by providing frictionless context-based authentication to protect against cybercrime risks both online and via mobile devices,” said Andy Swett, director of business development, this week.

“Our solution enables Atlantic City casinos to provide a safe, reliable outlet for online gaming while offering an unmatched customer experience free of inconvenient authentication barriers.”

Internet gaming incurs risks similar to other online businesses, such as e-commerce and financial services websites, ThreatMetrix says…but the industry 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.

“The key to making online gaming successful in the U.S. is an effective security platform and anonymized global sharing of threat intelligence through a trusted identity network,” says Swett.

“While it’s essential to protect the personal data of online gamers, if the customer experience is arduous due to time consuming authentication techniques, the industry will turn gamers away and fail to thrive.”

ThreatMetrix claims its Global Trust Intelligence Network is the largest trusted identity network of shared intelligence, which protects casinos and gamers against payment fraud, account takeover and other suspicious activities.

The Network processes and analyses more than 500 million monthly transactions, 160 million active user accounts, 2,500 customers and 10,000 websites. Real-time 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.