IAGA SUMMIT FOCUS CYBERSECURITY
“Disaster planning and
employees should feel comfortable saying no. Tis includes C-Level who want to be exempt from corporate policy such as multi-factor- authentication, passwords, etc.
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Phishing and Vishing training for all employees should be a normal practice. Lastly, fund your IT department and keep them satisfied, rewarded and give them the training and tools they require to protect the business easily. Security needs to be layered in these times. You can't rely on just firewalls and your perimeter security. You need to add more security features like multi factor authentication, end-point-protection, email protection, data encryption and a security operation centre.
What are the best practices once the inevitable happens - how should the fallout be handled?
Tat's a great question. Disaster planning and budget are essential as well as your defences. How you deal with a breach can affect the cost from thousands to millions of dollars.
Have a plan for how to respond to an incident, assign roles, and follow it as closely as possible. Don't panic. It will only worsen the situation. I used to have contact numbers in my wallet in case I couldn't access them from my phone due to outages. Tat's old-fashioned.
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Contain the breach. Tere are different ways to do this depending on how the casino is run, but generally I always recommend disconnecting the network and keep the machines on if you can. Tis will help the investigation. But if you are not sure you can always switch off all of it until you can get more help.
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Contact the authorities. Depending on the type of breach, there are some organisations that you should have their contact information in the document for how to respond to an incident, such as your local FBI office.
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Have some cyber security companies ready to call that can come in to help anytime to assist with recovery and further monitoring for additional threats.
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Communicate openly and honestly with your legal staff, C-level, and stakeholders and eventually your customers.
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Update and review your processes internally on a regular basis and hire a third party governance auditor to review, suggest changes, and test your recovery methods.
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Research cyber security insurance, how it can help you and what is suitable for you.
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Hire a PR management firm if the fallout is going to be major because of its nature.
Can technology be used to mitigate the potential P72 WIRE / PULSE / INSIGHT / REPORTS
harms to reputation, to legal consequences and loss of reputation?
Indeed. Many of these services are designed for your customers, who can use them to check and protect their personal and financial information. Tere is also Online Reputation Management software that can track, control, and improve the online reputation and public image on the internet.
How do the new SEC Cybersecurity Governance rules add to the pressures and measures that casinos must incorporate?
Te new SEC Cybersecurity rules apply to public companies. It focuses on protecting the public investors and provides assurance of a cybersecurity program and reporting of material breaches. But a cybersecurity program and compliance doesn’t equal security.
However, it can be a double-edged sword. When a public company suffers a breach that is ‘material’ they have four days to publicly report it. Ransomware gangs know this, and material in this context means information that a reasonable investor would consider important in making an investment decision.
It's not solely about customer data or data that has not gone public. Tis creates two new opportunities for attackers. Extortion.
1. “If you don’t pay, we will file a complaint with the SEC in case you forgot.”
In 2023, the ransomware group known as AlphaV and Blackcat filed a complaint with the SEC against their victim MeridanLink for failing to publicly disclose the breach within the four days required.
2. “Pay us just under the radar of what might be considered a material breach, and we just go away and no one will ever have to know.”
Te second method still violates the SEC rules if any personal data was stolen but offers temptation for the victim to save the embarrassment by illegally hiding it or not publishing the amount paid. RaaS is a business and usually if they don’t hold to their word then no one will ever pay them in the future. It’s an understood collective amongst thieves.
We saw several high-profile casino breaches in 2023 - are we going to see more or less in 2024?
Te trend of gaming industry attacks is difficult to anticipate, but Cyber attacks will grow across the board in 2024. We are still undergoing a digital transition of doing business and then new technologies like AI will aid the attackers.
Some groups will target the entertainment industry because of their recent wins, and some will change. Targets are typically the easy ones. Te harder it is to breach the more likely they will look for a simpler target.
budget are essential as well as your defences. How you deal with a breach can affect the cost from thousands to millions of dollars. Have a
plan for how to respond to an incident, assign roles, and follow it as closely as possible. Don't panic. It will only worsen the situation. I used to have contact
numbers in my wallet in case I couldn't access them from my phone due to outages. That's old-fashioned.” Scott Melnick
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