QUASA

<p>Hello!</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/e2c154c2e9e0425595012e985ce0cda6.jpeg">​Internet fraud has a wide impact on many industries, including online gambling or gaming. Gambling operators and online casinos have a tough task in controlling and preventing fraud. They function essentially like digital wallets and require&nbsp;sophisticated tools to analyze data and flag&nbsp;it.</p><p>As in many other industries, however, a simple solution can still be an advantage. It will allow operators to avoid chargebacks and increase their revenue. They can also offer better deals to customers, especially when they present options such as Super Bowl odds.</p><h4>Fraud in iGaming</h4><p>Despite scammers constantly coming up with new ways to hack the system, there are still some regular threats to be aware of. These operators are becoming more adept at identifying them, which provides better protection for users.</p><p>Multi-account fraud forms the basis of many attacks. Scammers can create multiple accounts by using false or fake credentials. They can then commit multiple frauds. They can also skew sports betting such as Super Bowl lines.</p><h3 id="bonus-abuse">Bonus Abuse</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/3ca04fd31b5c4b429677b6d645e2827c.jpeg">​Sign-up bonuses, discounts, and other freebies can be used by many fake accounts. These promotions are a great way to attract new players but they can also cause losses for&nbsp;the iGaming platform&nbsp;if they are given away too often.</p><h3 id="gnoming">Gnoming</h3><p>It also makes use of multiple accounts to benefit a single person. The individual may also use other accounts that have been lost in error. They then take all the bonuses and winnings.</p><h3 id="chip-dumping">Chip Dumping</h3><p>This is&nbsp;a very common practice&nbsp;at online poker tables. Similar to Gnoming, multiple accounts can be created and joined to the same table.</p><p>The individual can then manipulate the system to alter the game’s outcome. This could be done to trick a player or to rake in the chips during a closed game.</p><h4>Payment Attacks</h4><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/5d7f0c03180742cfb8f351d9e1e14e58.jpeg">​Payment attacks are another threat. These <a href="https://quasa.io/media/what-is-the-future-of-cyber-attacks" rel="noopener noreferrer nofollow">attacks</a> directly target money. iGaming platforms can be described as digital wallets. Processing payments can lead to losses.</p><h3 id="stolen-credit-cards">Stolen Credit Cards</h3><p>Scammers could use&nbsp;stolen card numbers to fund accounts. They are making real money by using illegal money.</p><h4>Illegal refunds</h4><p>These happen after fraudsters deposit funds into an account. The fraudsters then contact their bank and card provider to request a chargeback. The provider or bank will issue a refund. This is similar to when someone loses on Super Bowl odds. They could request a refund.</p><p>Operators of iGaming need to make sure they are not a popular place for money laundering. Anyplace money is dealt with can be used to legitimate illicit cash.</p><h4>Preventing Online Gaming Fraud</h4><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/26c6abd1192c440eb38304ad07e9c707.jpeg">​To reduce fraud risk, iGaming operators must follow several processes. The most important is to follow Know Your Customer (KYC), practices. This practice is almost fully ingrained in&nbsp;the registration process&nbsp;for reputable iGaming platforms.</p><ul><li>Verification of identity</li><li>Age verification</li><li>PEP check (politically exposed persons). This title is usually used to refer to high-profile individuals, such as heads of state and high-ranking military personnel.</li></ul><p>These steps can be used for logging on to confirm that the account is being used by the correct user. Analyzing device fingerprints and IP addresses can help identify account hijacking. This applies regardless of whether credentials have been stolen or obtained through phishing attacks.</p><h4>Operational Impact</h4><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/49664190a9e046c3b327a420880de6be.jpeg">​Fraud can have a negative impact on online gambling sites. Fraud directly affects revenue and can lead to the loss of resources. It also has a negative impact on compliance systems. Fraud also has a negative reputation with customers and payment systems.</p><p>Online gaming relies on trusting its&nbsp;users and developing relationships&nbsp;with them. Online gaming is not for everyone. Users who distrust the platform will likely find alternatives. It’s crucial to stop fraud and show that the platform has long-term positive consequences.</p><p>Thank you!&nbsp;Join us on social networks!&nbsp;See you!</p>

Online Gaming Fraud Identification

Table of Contents

QUASA

Other articles published on Dec 2, 2022

421 Million XRP Moved Over Week As Price Rises 15 percent

Along with the Gods, Weekend Buff Event

Thomas Lee Retains His $200K Bitcoin Price Prediction

What Caused Hedera To Grow So Rapidly In the Q3 of 2022?

Magpie XYZ November Wrap Up

SBF Political Donations Are "Fraudulent Transfers."

Join our free newsletter for daily crypto updates!