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The American Super Bowl is one of the highest earning sport events in the world, with companies competing for ad space, even if that ad space is only a few seconds long. All in an attempt to grab the attention of the millions who watch the event annually.
According to Sumsub, a global verification platform, a huge jump in traffic of more than 83% at sportsbooks around the Super Bowl is expected. However, fraudsters are also looking for their cut of these profits, the company said.
Cybercriminals are likely to target bookmakers who tend to skip user verification checks to onboard new bettors faster. Companies could be tempted to cut some expenses that are expected with an increase in user traffic. But their rush to bring in new customers by minimizing security processes is poised to make the final game of the season “the biggest day of the year” for cyberattacks, hacking, personal data theft, and fraud, Sumsub said.
“Though major sporting events attract much-desired traffic to betting platforms, cybercriminals and scammers increase in number as well, so bookmakers need to take extra care,” Andrew Sever, Co-Founder and Chief Executive of Sumsub, explained to cybernews.com.
If bookmakers decide to sacrifice verification accuracy for speed, regulatory sanctions may be imposed, the company said. Entain, the owner of Ladbrokes, was fined £17 million ($20.6 million) – the largest ever fine demanded by the United Kingdom’s Gambling Commission – for failing to enforce player security and anti-money laundering measures.
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