Reducing Online Gaming Frauds Through Player ID Verification

The online gaming industry has progressed in recent times. It has provoked great revenues proving to be beneficial for the gaming developers. The ease of internet access invites thousands of users to play online games daily. Impersonating an identity of a player, stealing their credit card credentials and much more scams are surging in the e-gaming sector. Moreover, companies are implying various age checks to avoid these frauds. The most suitable solution to prevent these crimes is to incorporate a player ID verification system. It will determine a real player surfing online from a fraudster disguised to carry out illicit activities. 

Money Laundering and Gambling Scams

Digital gaming scams are increasing every year. Fraudsters use these digital platforms to convert their black money. They even frame innocent people. Age verification solutions can help in restricting minors from gambling sites. Various regulatory authorities have devised anti-money laundering (AML) measures to reduce the online casino scams. Gaming developers of age-restricted virtual games need to strictly follow them. Otherwise, they will have to face hefty penalties. Online game verification ensures that only authentic players are onboarded. So only those users who are legally old enough to play on gambling sites. 

Different Types of Online Casino Scams

• Multiple Account Fraud

Scammers generally utilize many accounts at one time. This is used to process huge transactions in small portions. Generally, they create these accounts by using fake credentials. 

• Bonus Scam

Fake bonus offers to lure the players into falling prey to the attack of scammers. In addition to this, false coupons and codes are sent to the user to urge them. Hence, this becomes a source of an increase in gambling frauds.

• Gaming

In this kind of scam, fraudsters usually use multiple accounts to exploit the whole game. The other players lose intentionally in order for the one player to win. Most of these other players’ accounts are handled by the same scammer. 

4 Kinds of Frauds Prevailing in the Online Gaming Industry

1. Stealing Data

Fraud in the gaming industry is increasing at an alarming rate. Criminals create fake accounts of players online. They carry out this by stealing the data of the users. Moreover, they carry out in-game purchases by using stolen credit card credentials. Scammers might also rob all those points, cash, or any elements earned by the player to sell them on the dark web. Generally, many users use the same password to long-in various gaming sites. This creates loopholes for cybercriminals. Once they get a correct combination, multiple accounts of the players will be prone to risks simultaneously at one time. 

1. Installing Malicious Malware

Gamers who have a craze to play online games often become a target for installing malware on their devices. In fact, fraudsters just have to convince them to download a particular game infected with malware. The player downloads the links. Thus, scammers get access to all that private information. Now they can utilize this data to carry out multiple fraudulent activities. Therefore, online game verification is very important in this regard.

1. Asking for Fake Cheat Codes

Sometimes, players get stuck at a certain level in a game. They start finding cheat codes online to escape this situation. Furthermore, They start searching different websites and come across fake sites displaying false cheat codes. Moreover, players who want to upgrade their game by not paying for it also become a victim of these frauds. They click on links offering free versions of the game. As soon as they install it, they realize it was all fake and nothing more. 

1. Phishing Scams

This kind of online gaming fraud is very common nowadays. Fraudsters send emails or texts to various people. They claim that they will close their bank accounts. Meanwhile, this happens if the users do not click on the link. The victims are presented with a similar log-in page, asking for their details. This data can consist of their social security number, password, and account information. Once the user enters their data, the criminals hack the information causing big trouble. Furthermore, they use it for illegal purposes. They sometimes even sell it on the dark web. 

Wrapping it Up

Online game verification can help in providing a seamless gaming experience to players. It will eliminate any potential risks that can disturb them on digital platforms. Different types of online casino frauds are increasing which is creating problems for players. Moreover, stealing the information of the users for illegally obtaining benefits is a serious crime. Gambling sites also need to strictly follow the AML regulations to keep fraudsters away. It will protect them against huge penalties. Thus, companies need to enforce a player ID verification system for saving from such faults.