Mar 04 ThreatMetrix Enters Online Gaming Market to Protect Casinos and Consumers from Cybercrime
Cybersecurity Provider Registers with New Jersey Division of Gaming Enforcement, Gains Certification to Serve Atlantic City Casinos
San Jose, Calif. – March 4, 2014 – ThreatMetrix™, the fastest-growing provider of context-based security and advanced fraud prevention solutions, today announces its entry into the online gaming market. 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 gambling is expected to garner up to $300 million for New Jersey casinos and $45 million in tax revenue by the end of its first year. In addition, total worth of the U.S. online gambling industry is projected to reach $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 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, ThreatMetrix. “Our solution enables Atlantic City casinos to provide a safe, reliable outlet for online gaming while offering an unmatched customer experience.”
Internet gaming incurs risks similar to other online businesses, such as e-commerce and financial services websites, but also faces some unique challenges. The most prominent cybercrime risks casinos face include:
• Payment Fraud – The use of stolen credit card information to gaming 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 gamblers, if the customer experience is arduous due to time consuming authentication techniques, the market will turn gamblers away and fail to thrive.”
The ThreatMetrix™ Global Trust Intelligence Network (The Network) is the largest trusted identity network of shared intelligence, which protects casinos and gamblers against payment fraud, account takeover and other suspicious activities. The Network processes and analyzes more than 500 million 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.
ThreatMetrix builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.
ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix™ Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.
The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.
For more information, visit www.threatmetrix.com or call 1-408-200-5755.
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