Verifying Players - The Solution to Reduce Fraud in Online Gaming

Rumi janson

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9/8/21
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Online gaming has come a long way to become a mainstream platform, and nowadays everyone is connected in the digital space. The online gaming experience is quite addictive for the players. In fact, gaming is such an addiction for some people that they don't pay attention to who they are playing with.

Unknown identities of players mean that the environment is not secure, which results in gaming fraud. Since so many people are involved and money is won/lost, there needs to be a solution to reduce fraud in online gaming.

Gaming Industry​

Considering digital gaming platforms, it's not difficult to understand that they are growing at a steady pace. The gaming industry contributes greatly to internet traffic as the number of players is in the millions. According to research, the market value of the gaming industry is expected to cross 138 billion dollars in 2021.

Online gaming provides the opportunity for players to play as teams even when they are far away. In many cases, players from different countries in the world are connected to play together, but their identities are hidden using made up gaming names. Even if someone uses their actual name, it's not necessary that it will be accurately spelled on the gaming platform.

Gaming Frauds​

Fraud in gaming purchases because there are in-game purchases, and enthusiastic gamers do spend a lot of money in making those. This is why authorities around the world are enforcing identity verification in gaming platforms to reduce fraud in online gaming.

In various countries, regulators have enforced different laws related to gaming. In order to implement proper systems to reduce fraud in online gaming, know your player services are sought after. It's becoming increasingly challenging for gaming service providers to give their customers an ideal experience while also trying to follow rules and regulations in order to reduce fraud in online gaming.

Also, it has to be verified that the players are real, and above a certain age, because there are age restrictions in games. Failure to implement these checks results in serious trouble for the gaming operators.
  • Credit Card Fraud​

Not only gaming, but every business also faces the risk of credit card fraud. Stolen credentials are used by criminals to place bets and take benefits that don't belong to them. One such activity gets traced, the business has to pay fines.
  • Money Laundering​

The invisible obtained money through online gaming platforms is hidden by the fraudsters. Also, gambling platforms are used to deal with large sums of money, so it's hard to trace hidden money.
  • Account Takeover Fraud​

Fraudsters attempt to hack accounts belonging to real users in order to send spam messages to other users. This technique allows them to gain easy money by sending fake offers to players.

Online Gaming Safety​

Reliable identity verification procedures ensure that only the real players enter the online gaming platform, to reduce fraud in online gaming. Onboarding regulations imposed by the authorities in various around the world ensure that only the real players of the right age group are taken in. Such measures greatly help reduce fraud in online gaming, as well as saving individuals money.

There are a number of services using which gaming companies can reduce fraud in online gaming and save themselves from compliance fines.
  • Document verification
  • Age verification
  • Face verification
  • AML screening

Benefits of Gaming Verification​

Players have their own requirements, and one of them is an ideal gaming experience in which there are no delays and everything is smooth. When implementing different verification procedures in a digital space, delays are often created and this drives away customers to try different products with no delays.

However, security is a must in order to reduce fraud in online gaming. For this reason, the digital document verification services of today offer quick and efficient solutions with very few delays. Incorporating artificial intelligence and machine learning, these services allow businesses to perform accurate verification. In addition to this, age verification software is easy to integrate into the system.

Protecting minors from the harsh world of gambling is also important, which is why knowing your child services provide the functionality to verify whether a child is old enough to access a specific platform. Hence children are also protected from illegal activities.

Conclusion​

As the digital world advances, there will always be risks of fraud. It is crucial for all businesses, and in this context, for gaming platforms to implement verification processes in order to reduce fraud in online gaming.
 

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