The Sports Betting Regulators Association (SBRA) will hold an online briefing for regulatory agencies this Thursday afternoon, June 8, 2023, to discuss recent intrusions of player accounts that have hit numerous licensed sports books and resulted in at least one federal indictment.
“Hackers hit every industry and while the licensees have a primary responsibility and business motivation to ensure their accounts are secure, the sports betting regulatory agencies play a consumer protection role and need to be confident player accounts are secure and the steps taken by licensees are appropriate to the ever-changing cyber threat landscape and effective in stopping attempted intrusions,” said Ed Martin, SBRA Coordinator.
The most recent high-profile case involved the arrest of an 18-year old from Wisconsin associated with the hacking into DraftKings and compromising over 60,000 accounts and selling information on the “dark web” to those who would use it for criminal purposes. FanDuel has reported attempts to hack players accounts and there have been player accounts set up at BetMGM that were unauthorized by the customer and funded accessing their bank accounts.
Sports betting regulators and horse racing regulators share a common concern on account security and regulatory officials from both regulatory disciplines from across North America have signed up for Thursday's briefing.
“This may be a brutally blunt conversation about cyber threats from one of the world's experts in this area, Josh Chin. Josh is the Co-Founder and Managing Partner of Net Force, a cybersecurity brain trust, consulting, and advisory firm focused on addressing current and future problems,” Martin said.
The SBRA will seek to identify regulatory best practices already deployed and develop new ones where needed and encourage universal reliance.
Anyone interested in participating with the SBRA should contact Rebecca Shoemaker at rshoemaker@sportsbettingregulators.com
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