#OFMBusinessHour: Fraudsters shift their attention to online gambling

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OCNJ Daily

KYC at US Gambling Sites: Overview

As online gambling across the US increases, it has been essential to make the industry safer than ever. KYC stands for know your customer. It is a way that online gambling websites keep track of their clients and protect them. This regulation safeguards players and upholds integrity in the industry. The KYC process helps protect against money…

Law ・ 13 February 2024

Times Of Malta

Safeguarding online casinos does not have to spoil the fun

Online gambling and gaming are one of the most protected businesses in the world. The gambling industry is almost as strongly regulated as the financial sector. To operate legally, your business must have multiple important licenses and certifications and comply with the constantly changing rules and regulations. Online platforms also need to be…

Incidents ・ 31 October 2023

Irish Examiner

Ultimate Guide to Combat iGaming Frauds

At the core of every successful iGaming experience lies the mantra of safety. In an era where cybercriminals are lurking in every corner of the digital space, protecting yourself from scams in international casino has never been more vital. This article sheds light on the basics of online gambling fraud, how it occurs, repercussions, and…

Payment Methods ・ 22 October 2023

Best Stocks

Gambling.com Group: A Comprehensive Overview of a Leading Player in the Online Gambling Industry

On August 21, 2023, we will be discussing the latest research report on Gambling.com Group (NASDAQ: GAMB). This article aims to provide a comprehensive overview of the company's recent earnings results and its operations in the online gambling industry. According to their earnings report released on May 18th, Gambling.com Group exceeded market…

Industry ・ 23 August 2023

Wild Casino

$5,000 Welcome Bonus

Deposit bonuses are optional and must be requested by the player when making a deposit. For example, use Promo Code WILD1 to a 100% Casino bonus. Your bonus request will be assessed and, if your account is eligible for the bonus, it will be added to your account immediately.

Finsmes

KYC and AML in Building a Secure Online Casino and Betting Company

The past 2022 and present 2023 year has confirmed the resilience of the iGaming industry even in the face of severe economic trials. "The gambling and betting industry has entered the top seven global fastest growing Industries by revenue growth in 2023," BetB2B noted. Global Airport Operation - 16.2% Global Hotels & Resorts - 13.6% Global Travel…

Industry ・ 24 July 2023

Game Industry News

Can AI Detect Fraud and Prevent Problem Gambling?

The online gambling market is undeniably booming. However, this exponential growth also fostered an environment for hackers to target betting sites and players. Even though gambling companies follow various security measures, they sometimes face fraudulent attacks. The solution lies in Artificial Intelligence (AI) to safeguard the business.…

Incidents ・ 14 April 2023

ABC Australian Broadcasting Corporation

Video games with simulated gambling to be given R18+ rating under new proposal to protect children and problem gamblers

The federal government will move to apply an R18+ rating to all video games that contain simulated gambling as part of a proposal targeted at restricting children's access to popular casino-style games. It will also seek to change classification rules to require all games with paid loot boxes - where players can purchase a box with a randomised…

Games ・ 29 March 2023

ABP News Live

Identity Verification: How AI-Driven Tech Is Vital For Online Gaming

The Indian online gaming industry is growing at a frenetic pace. If we quote the numbers, it is expected to grow from $2.8 billion in 2022 to $5 billion in 2025, at a CAGR of 28 percent to 30 percent. The number of gamers is expected to grow from 420 million in 2022 to 450 million by 2023, and touch as much as 500 million by 2025. With numbers…

Industry ・ 13 March 2023

Blockchain Reporter

How Cryptocurrency Casinos Came about and What Happened as a Result

The emergence of cryptocurrency casinos online was a breakthrough in the gambling industry. Cryptocurrencies facilitated the increase in the number of clients of gambling establishments and provided them with anonymity. Visitors to gambling platforms on the Internet have always been interested in both the possibility of testing demo versions of…

Crypto ・ 10 February 2023

GamingLyfe

Innovative security features in online casinos in 2023

It's no secret that online casinos have had to deal with a lot of security issues in recent years. With the advent of new technologies, however, comes new ways to combat these threats. Here are some of the innovative security features you can expect to see in online casinos in 2023: Facial recognition technology is one of the most promising new…

Innovation ・ 30 September 2022

Games Reviews

How to avoid fraudsters in online gaming

During the COVID-19 epidemic, millions of people worldwide are flocking to online gaming, and fraudsters are searching for new methods to target them. According to recent statistics, thwarted efforts to lure users of one security solution to visit malicious, video game-themed websites increased by 54% from January to April. Many players frequently…

Trust and Safety ・ 05 July 2022

Online Poker Report

US Online Gambling Operators Seeing High Player Fraud

US online gambling fraud attempts declined 16% this year, TransUnion told Online Poker Report today. That's a good sign, but those rates are still higher than Europe's, TransUnion's Declan Raines noted to OPR. Raines, the head of US gaming for Chicago -headquartered TransUnion, said those US fraud attempts usually take the form of online casino and…

Trust and Safety ・ 29 April 2022

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Dark Reading

How Casinos Can Prevent Loyalty Incentive and Account Takeover Fraud

Cybercriminals aren't picky about their targets - they go where the money is. And they are paying attention to the gaming industry, which makes a lot of money delivering different forms of entertainment. The commercial gaming industry appears to be roaring back from pandemic lows, particularly in the online gaming sector. The U.S. commercial gaming…

Trust and Safety ・ 24 March 2022

Gambling News

Gambling Is Targeted by Fraudsters Less Often Than Video Gaming

The gaming industry in the United States came under heavy fire from fraudsters in 2021 - these are the conclusions posted in a report by Global Digital Fraud Trends Report in their latest edition. According to the document, there has been a 60.3% year-over-year increase in the level of fraudulent activity associated with the gaming industry in…

Trust and Safety ・ 09 March 2022

Rebellion Research

Can online casino be rigged?

Can online casino be rigged? People who are new to the world of online casinos usually ask the question of whether online casinos cheat, particularly if they are unlucky and lose their first deposit at the casino. It is obvious that no one likes to lose, so it's only natural when some players start questioning if the online casinos cheat, right…

Software ・ 17 February 2022

Tech President

How to avoid getting scammed at gambling platforms

Gambling fraud is when cybercriminals attempt to abuse or defraud an online casino/bookmaker without having any direct connection with the game itself. These scams occur when criminals attempt to manipulate or abuse an internet gambling site for financial benefit. Match-fixing is the practice of one portion of the competition'throwing a bunk,'…

Trust and Safety ・ 09 February 2022

Online Poker Report

Online Gambling's Explosive Growth Accompanied By Increase In Fraud

Online gambling is starting to attract more fraudsters. Such a rise in online gambling fraud makes sense. That's because "fraudsters tend to seek out industries that may be seeing an immense growth in transactions." So says Shai Cohen, the SVP of global fraud solutions at Chicago -headquartered TransUnion. "Growth in transactions" may be an…

Trust and Safety ・ 12 February 2022

Gambling News

Fraud.com Set to Combat the Rising Gambling Fraud Issue

According to a CNBC article in August, there has been a considerable jump in online fraud attempts in 2021 compared to previous years. According to cited data from a TransUnion report, the number of cybercriminals targeting the gaming sector soared to 393% worldwide. In the US, the gambling fraud rate reached close to 262%. Suspected digital fraud…

Trust and Safety ・ 01 December 2021

The Guardian

TSB is ignoring the fraudsters gambling with £4,150 of my money

You recently featured a case of a reader whom TSB had refused to refund after £1000 was taken from his account by fraudsters using gambling sites. I find myself in an even worse position. TSB has refused to refund me for 70 transactions totalling £4150, all made over 10 days to a betting company. I most certainly did not make these payments, and…

Trust and Safety ・ 23 November 2021

PYMNTS

Stopping Fraud in the Online Gaming Marketplace

Big business, online gaming and gambling became even more popular during the pandemic as consumers sought entertainment at home. Players worldwide signed on in droves, and the online gambling market is predicted to rise from approximately $64 billion in 2020 to more than $72 billion in 2021, a growth rate of 12%. In-game assets for digital gaming…

Trust and Safety ・ 21 October 2021

Yogonet

How gambling operators can protect themselves against the growing risk of cyberattacks

new report from TransUnion found that the focus of cybercriminals is shifting from the financial services sector to gaming and gambling, as well as leisure. This requires swift action from operators to fight fraud in the gambling and gaming industry. The US-based consumer credit reporting agency looked at data for the first six months of 2021. It…

Industry ・ 15 September 2021

CapeTalk

BEWARE: Gambling site users greatest target for online digital fraudsters

Refilwe Moloto speaks to TransUnion CEO Lee Naik. The use of gambling sites and online casinos has increased greatly in the past 18 months of the pandemic Fraud attempts in this gambling space have increased by 922% says TransUnion CEO Lee Naik Fraudsters gain access to personal information as well as credit card information What impact has the…

Trust and Safety ・ 31 August 2021

Yogonet

Digital fraudsters shift focus to gaming, with 36% growth in online gambling during Q2

raudsters are re-focusing their efforts from financial services to the gaming, travel and leisure industries, according to TransUnion's latest quarterly analysis released Wednesday. Gaming and travel and leisure were the two most impacted industries globally for the suspected digital fraud attempt rate, rising 393% and 155.9% when comparing Q22021…

Trust and Safety ・ 11 August 2021

Yogonet

Identity fraud and gambling: negating the three main risks

ccording to data from PwC, some $42 billion was lost to fraud over the last few years. During 2020, a shift has occurred whereby more and more people are transacting online. Shopping, socialising, education, investing, and of course, online gambling all require the use of credit or debit cards and the submission of personal information. This is…

Trust and Safety ・ 19 January 2021

Calvin Ayre

Online gambling account takeovers spike, so stop using lame passwords

Online gambling operators are increasingly being targeted for account takeover fraud, in part due to customers choosing some truly lousy passwords. A new survey of global fraud and payments professionals by the Ravelin fraud detection firm found gambling second only to taxi companies in terms of the average annual number of account takeover…

Trust and Safety ・ 19 January 2021