Data security in digital businesses: common threats and how to avoid them

The exponential increase in the number of digital businesses in recent years has resulted in an equally intense increase in cybercrime. Data security, for example, is a concern for all companies operating on the internet. For the iGaming sector, the issue is especially sensitive, since it is not only the customer’s information that is at risk, but also their money.

Therefore, in this article we will address the most common threats to digital security and the best practices that can be adopted to prevent them.

Common Data Security Threats

There is a wide variety of threats to the user data security in digital business which are constantly evolving to increasingly confuse people and security systems. Some of the most commons one include:

• Phishing attacks: fraudulent emails that trick users into obtaining personal information. Knowing how to identify these emails is essential to avoid falling into the traps.
• Malware: malicious software that can invade systems, steal data or block access to accounts. To reduce the risk of these attacks, it is important to keep your software updated and use reliable antivirus software.
• Internal threats and data leaks: employees with access to user data can compromise security, not only intentionally, but also through carelessness. To prevent this from happening, you can implement access controls, encryption, regular audits and data access management.

How to protect user data?

Among the best practices to ensure user data security, companies can implement:

• Strong encryption, to ensure that even if criminals intercept data, it remains inaccessible to unauthorized users.
• Regular security audits, to help identify vulnerabilities and fix flaws before they can be exploited.
• Two-factor authentication (2FA), to add an extra layer of security by requiring users to verify their identity using two different methods.
• Collecting only the information necessary for business operations, to reduce exposure in the event of a data breach.
• Incident response plans, which should include communication strategies to inform affected users.
• Regular software updates, to protect against known vulnerabilities.
• User awareness, such as creating strong passwords and knowing how to identify phishing attempts.

Importance of data security

Data security is important not only for users, but also for businesses. Ensuring that your customers’ information is handled responsibly will increase people’s trust in your business, just as a data breach, for example, can ruin a business’s reputation.

In addition, cyberattacks can cause significant disruptions to a company’s operations, resulting in financial and customer losses. Finally, failure to comply with the guidelines of the General Data Protection Law (LGPD) in Brazil can result in fines and legal sanctions.

Data security at inplaySoft

inplaySoft gives the highest priority to the security of its users’ data, providing advanced measures to ensure the confidentiality of its players’ information. Among these measures, we can mention:

• KYC and AML tools to verify and validate users’ identities.
• Risk and anti-fraud tools that provide robust protection against fraud and malicious attempts to disrupt normal traffic.
• Verification systems that prevent criminal from using the platform for money laundering.

inplaySoft is also following all the new regulations for iGaming imposed by the Brazilian legislation in 2023, according to Law 14.790/23. In this way, our platform guarantees an experience that is not only rewarding for its users, but also safe and reliable.