..

Betfair Scandal: Critical Credit Card Hacking Data Withheld From Players

Written by:
Aaron Goldstein
Published on:
Oct/03/2011
Betfair Scandal

The world’s largest betting exchange, Betfair, has found itself in the middle of a major scandal that resulted in the firm’s Head of Security stepping down.

More than three million customers were affected by a massive credit card hacking scheme.  The company made the situation worse by failing to advise customers.  The hacking incident in question occurred over 18 months ago.

The Daily Telegraph reported that “between 28 March 2010 and 9 April 2010, cyber criminals stole 3.15 million account usernames with encrypted security questions, 2.9 million usernames with one or more addresses and 89,744 account usernames with bank account details.”

The company issued this statement:

“Eighteen months ago we were subject to an attempted data theft. Because of our security measures the data was unusable for fraudulent activity and we were able to recover the data intact.

“At the time, we contacted all the relevant authorities and worked closely with them regarding this matter and it was established that there was no risk to customers.”

The Daily Telegraph reported that an independent consulting firm, Information Risk Management, referred to Betfairs internal security as “insufficient”. 

“Information security was not implemented in accordance with best practice.

“Appropriate information security governance is not in place within Betfair and as a consequence the business has been exposed to significant risks,” the report stated.

- Aaron Goldstein, Gambling911.com

Gambling News

DraftKings Calls Canada's Gambling Study Flawed

DraftKings Calls Canada's Gambling Study Flawed

Because the tax rate Ontario is expected to impose on online gambling sites is much lower than the percentage the government takes from casino spending, the report concludes that the province stands to lose out on $550 million in annual revenue for a total of $2.8 billion over the next five years.

Bet on the Raiders Next Head Coach

Bet on the Raiders Next Head Coach

Michigan Wolverines head coach Jim Harbaugh is the 2-1 favorite to be named the next head coach of the Las Vegas Raiders, but Rich Bisaccia is following closely at 5-2 odds.

Odds Released on Cowboys Firing Head Coach Mike McCarthy in Wake of Wildcards Blunder

Odds Released on Cowboys Firing Head Coach Mike McCarthy in Wake of Wildcards Blunder

Many are wondering whether or not Jerry Jones will pull the plug on the Mike McCarthy Experiment in Dallas.

Bet on Who the Steelers Next Starting Quarterback Will Be in 2022

Dave Mason of BetOnline asked his followers immediatley following the Steelers bad loss to Kansas City Sunday night: "Fill in the blank Part 2: The starting QB for the Steelers WK 1 next season will be _________."

What's the Spread on the Bengals vs. Titans Game?

What's the Spread on the Bengals vs. Titans Game?

The Bengals have advanced in the Playoffs for the first time in decades and they are set to play the Tennessee Titans as a +3 underdoog.

Syndicate