How EMEA iGaming Operators Can Tackle the Risks of Online Gaming

The online gambling market is estimated to reach $65. 53 billion in 2022, with a growth of 190% over the next decade. In the same way, increasing security risks are hindering refusal. From 2019 to 2021, igaming fraud will increase by 68, 6%.

Cybercriminals are constantly looking for fraudulent possibilities in the online gaming industry, and some even turn to artificial origins in the mind to outwit classic security systems. In the EMEA region, this constant danger is comforted by the rapid increase in adaptation. As a result, igaming operators must eliminate more and more vulnerable spaces in the path of players while adapting to complex claims from outside.

Read on to learn about the more common risks in online gaming and what practical measures you can take to protect your business, prioritize VIP players, and accelerate emergence.

What are the top 5 types of fraud in the iGaming industry?

Understanding the dangers you face is the first step to prevent them. Here we will discuss five representative security dangers that all IgAming operators should be prepared for:

Payment fraud

When it comes to IgAming, the financial costs for companies and users are definitely considered one of the biggest challenges. Cybercriminals target monetary transactions and use all kinds of vulnerabilities in payment systems that support any kind of payment contact, coverage:

• CNP): Cybercriminals use stolen card information to make purchases online, in applications, and wherever else the main card is not needed. This is becoming more and more widespread as a component of payment fraud.
• First-party fraud and payment returns: Buyers who have lost money gambling have every opportunity to say that operations with their credit or debit card were performed without authorization and to demand a refund from their bank.
• Abuse of phone account replenishment: Fraudsters have every chance to apply for phone loans or prepaid cards to keep their gambling standards, or to use social engineering and fitting to register other players and move their phones to move phone payments.

Account takeovers and phishing

To test your personality in gambling, you must give Internet Personally Identifiable Information (PII). Fraudsters often attempt to gain unauthorized access to users' own infidelity and payment details in order to gain immediate financial benefit or steal their own data. Two common methods supported by cybercriminals to achieve this are:

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• Advertising promotion is an effective way to acquire new customers, but may be used by careless members, and business costs can rise rapidly. In a method called Gnoming, scammers create dozens or hundreds of fake accounts, and repeat registration services, discount coupons, and free gifts. They still have all the opportunities to use Gnoming to avoid the restrictions on accounts for previous evil and sel f-exclusion.

Gnoming and bonus abuse

This is a money laundering method in which players intentionally take chips to other players and send money in a way other than a normal payment system.

Chip dumping

Cyber ​​criminals can skillfully manipulate advertising techniques such as the Pay Par Reed (PPL) and the Pay Par click (PPC) campaign, creating false leads and sales. This involves the risk of a type of mistake in which the scammers register the domain that seems to be the official name and make a profit from illegal clicks.

Affiliate fraud

The EMEA regional business operators who have been damaged by fraud are not only losing, but are also likely to be claimed or fined by regulatory authorities. In addition to this, it costs money to strengthen protection against future attacks.

The compounding challenge of EMEA regulations

In the Igaming field, data leakage is a serious threat because the player's personal information and economic information may be leaked, and the operator has average $ 3. 1 million per data leakage. Players are looking forward to the highest level of security, and as a result, losing the control of this data will impair the trust of the player and the reputation of the brand.

Online casinos are strict regulations, and do not comply with gambling, data security methods, and ant i-money laundering methods, and in the event that data leakage occurs, operators have legal effects, fines and loss of license. Faced.

Customer security measures can be affected by different compliance rules for each jurisdiction of online gambling. In general, these laws have the ability to set a compliance promise for all stakeholders, and to determine the demands of game standards, advertising strategies, and IT infrastructure in advance. Here are some specific rules for harmonization in EMEA:

The compliance landscape in iGaming

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• Not lagging behind EMEA, the US is still considered a fast-growing Igaming market and has encountered some normative claims.

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• SIFT, a solution for preventing fraud based on artificial origin of mind, trusted by the coolest brands of IgAMing, allows operators to solve these unique tasks, provide frisky-increases and improve the quality of player service. Developed in collaboration with IgAming specialists, Sift invited SIFT to create conclusions that take into account IgAming's special activities and managed to achieve for SIFT's clients the best IgAming features in the industry, covering an average locking factor of 0, 5% and a 60% reduction in manual inspections.

Eliminate the risks of iGaming with Sift

SIFT's individual conclusions for IGAMing are in fact supported by a mass-scaling detection network based on artificial origin of mind, which can help operators stay one step ahead of fraudsters using underground networks in EMEA and other regions.

The highly inflexible automation templates created in collaboration with Igaming Favorus help to free up guesswork when working with players and provide free skills and hassle-free payments to VIP customers.

To take advantage of the widespread use of other payment method automation (APM) in the EMEA region, Igaming operators also use SIFT for small connections of all kinds of payment services, covering digital wallets, SEPA and ACH systems.

The economics and operations director of one of the fastest growing fantasy sports operators, Dustin Cooper, believes that "(the partnership with SIFT) will definitely give underdog players the ability to get more enjoyment out of the sport, providing a brighter, more conscientious, less heavy environment."

Injustice in the gaming industry