How to Prevent Online Gaming Fraud

As the popularity of online gaming soars, so does the potential for gaming fraud. Protecting yourself from malicious activities is paramount to ensuring a safe and enjoyable gaming experience. In this guide, we'll delve into actionable steps you can take to safeguard yourself against online gaming fraud.

1. Understanding scammer behavior

How do you get into the scammer's mind? Collect as much data as possible and apply it to create a risk score for each user. The basic strategy is to collect information about the user's IP address, device details, legitimate elements of payment data, and other types of records.

Other options such as:

• Analysis of activity related to website recommendations 
• Introduction of password management regulations
• Ensuring access control management
  (security issues and additional verification based on geolocation data)
• Deposit size control

Combining these methods with speed rules will give gambling companies a better understanding of cheating on their platforms. Use this information to create and implement an anti-fraud strategy.

2. 8 Security Audit Questions to Ask

Stay one step ahead of scammers and crooks by conducting regular audits of your security framework. This allows you to discover vulnerabilities before criminals find them.

• So what do you need to consider?
• Is my e-commerce store PCI DSS compliant?
• Are you using e-commerce partners and proper anti-fraud tools?
• Do you have a current SSL certificate?
• How often is my online shop backed up?
• Are there any inactive plugins?
• Is password management working well?
• Is my website scanned for malware?
• Did you provide the required data encryption?

3. Partner with a reputable e-commerce provider.

The Payment Card Industry Data Security Standard (PCI-DSS) was introduced in 2006 to combat data theft. This is to ensure that all merchants that accept, process, store, or transmit credit card information do so in a regulated manner to minimize the risk of payment fraud, privacy breaches and data theft. A set of security standards designed to.

As with any gaming company, you must ensure that your payment solution is PCI-DSS compliant. These checks and balances are very useful in ensuring payment from legitimate users.

However, given the innovative nature of gambling fraud, maintaining the level of PCI DSS protection offered by some payment service providers is certainly not enough in the long run. Fighting fraud requires a more sophisticated approach. That's why it's best to work with an experienced partner who has a history of fighting online fraud and has the expertise and technology to protect your business.

4. Know who is accessing your game with solid digital identity verification

Gaming companies need to know as much information as possible about their users. The identity verification service verifies the user's IP address, location, email address and other data. This, along with strong passwords and two-factor authentication, ensures that gaming companies know who is using their sites.

5. Leverage Data Enrichment Processes

Another way to improve security is through the use of data enrichment processes. This means tracking more than just a user's girlfriend's identity information. You can monitor device fingerprints and email profiles and perform phone and IP analysis. For example, scammers usually create new email addresses to register accounts. Legitimate users typically use old email addresses associated with other apps and social media. Unlinked email addresses are flagged by the system as they may have been created solely for fraudulent purposes. Another red flag is desktops with mobile data without call history. This information and more help prevent fraudsters from entering the platform.

As I said earlier, validation is very important. You need to know who your customers are and what kind of questionable profiles they have. Unfortunately, you run the risk of legitimate customers becoming impatient with too many validation checks and sending customers to your competitors. Not all customers require the same level of verification. This is where her customizable KYC check comes in handy. Fraud detection software should be able to perform an analysis of users' digital footprints and identify which users require light KYC and which require strong KYC. Soft KYC methods are more risky, but rarely cause churn. More serious methods require more user information (identifying documents, etc.) but eliminate most scammers. This process can be automated, eliminating the manual review process and saving time.

6. Use powerful and adaptive "Know Your Customer“ (KYC) verification checks.

As mentioned earlier, validation is very important. You need to know who your customers are and what kind of questionable profiles they have. Unfortunately, you run the risk of legitimate customers becoming impatient with too many validation checks and sending customers to your competitors.

Not all customers require the same level of verification. This is where adaptive KYC checks come into play. Fraud detection software should be able to perform an analysis of a user's digital footprint and identify which users need light KYC and which need strong KYC. Soft KYC methods are more risky, but rarely cause churn. The more serious methods require more user information (such as document identification), but eliminate most scammers. This process can be automated, eliminating the manual review process and saving time.

7. Regularly Monitor for Suspicious Activity Regularly monitoring

sites can help protect your organization from potentially suspicious activity that could lead to quantifiable fraud in the future. We need to collect as much information as possible so that we can train and improve our fraud detection algorithms to respond more quickly to potential fraud attempts. However, remember that efforts to protect gamers should not result in additional friction for users. Legitimate users can become frustrated when their experience is compromised. So keeping a balance in this regard should be the ultimate goal, even if it is difficult.

8. Use Data to Increase Protection

Data is the greatest weapon for gaming companies looking to protect their revenue and customers from fraud. The more data we collect, the better we can spot and stop fraudsters. We use it to keep your security, payment and identity details up to date and to fight scammers. Always use AI and ML technologies due to their vast data collection capabilities.

In short, online gaming provides endless entertainment, but it's crucial to prioritize your safety and security. By following these preventive measures, you can fortify your defenses against online gaming fraud and fully enjoy your gaming experience without unnecessary risks. Remember, a combination of cautious behavior and informed decision-making will contribute to a safer and more enjoyable virtual gaming realm.

Related Article:

What is Online Gambling Fraud?