Connect with us


Sift Science: Spearheading Cybersecurity in the iGaming Industry



As the iGaming industry grapples with the rising tide of cybercrime, estimated to cost a staggering $10.5 trillion by 2025, Sift Science steps up as the vanguard of digital defense. The gambling sector, a prime target for digital thieves, finds a powerful ally in Sift Science’s advanced AI-powered solutions. Their participation in the cybersecurity crusade is not just about damage control; it’s a proactive stance to ensure revenue growth remains unhampered by the looming shadow of online fraud.

Cybersecurity is an escalating concern across various industries, particularly the gambling sector which is increasingly vulnerable to sophisticated criminal attacks. Brittany Allen, Trust and Safety Architect at Sift Science, outlines the unique threats facing the industry and the cutting-edge AI technology being deployed to combat them.

North American gambling titans, MGM Resorts and Caesars Entertainment, have recently faced substantial cyberattacks. MGM Resorts endured a significant revenue loss after being forced to halt operations due to a system compromise. Intruders, linked to the notorious ALPHV and Scattered Spider groups, accessed sensitive customer information. Close on its heels, Caesars Entertainment experienced a loyalty program breach, resulting in a substantial ransom payout.

Adding to the concerns, online casino suffered a massive loss with $41m in cryptocurrencies stolen by the North Korean-affiliated Lazarus Group—a group responsible for over $200m in thefts this year. With such threats escalating, the 2023 World Economic Forum’s Global Risks Report has emphasized cybersecurity as a top global risk.


The gambling industry’s digital transition has unfortunately coincided with a surge in fraud, with Sift Science reporting significant increases in digital fraud rates across igaming and gambling from 2019 to 2021. The rapid onboarding of players and high transaction volumes create fertile ground for fraudulent activities, exacerbated by inconsistent international regulatory landscapes and the difficulty of distinguishing between high-value customers and fraudulent activities.

Sift Science, renowned for fortifying the gambling sector against fraud, harnesses machine learning to monitor over one trillion events annually across its extensive data network. This allows for the swift detection of new fraudulent patterns and the reinforcement of network-wide security measures.

With consumer trust at stake—78% would abandon a brand after an account takeover—effective fraud prevention is not just a security measure but a growth strategy. Sift Science boasts a technology that can elevate accepted player transactions to 99% and reduce manual reviews by up to 60%, demonstrating that investing in advanced fraud prevention systems is a strategic imperative for sustaining growth in the ever-evolving iGaming landscape.


Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Gamingo.News stands as a premier digital destination dedicated to delivering top-tier news and insights in the gaming and gambling industry. This specialized media outlet garners the attention of over 120,000 readers each month, providing them with engaging content, current news, and in-depth analyses.
The platform offers extensive coverage of various facets of the gaming world, including both online and brick-and-mortar gaming, wagering, esports, updates on regulations and compliance, as well as technological innovations. Regular content includes daily news stories, press releases, unique interviews, and comprehensive reports on events.
Moreover, Gamingo.News organizes webinars pertinent to the industry and offers detailed reports, establishing itself as a comprehensive information source for those interested in learning about gaming market operators, suppliers, regulators, and professional services. The portal's main objective is to keep its large audience informed about the latest news, trends, and developments in the gaming and gambling sectors. It focuses particularly on the European igaming market but also covers significant global news, proving to be an invaluable tool for gaming professionals, operators, and enthusiasts.

For inquiries, reach out at:

For editorial or PR submissions, contact:

Copyright © 2024 Gamingo.News.