Streamline Player Experience Using Online Gaming Fraud Detection

Techy bullion
By -
0
Streamline Player

As the world progresses towards a modern era, the online gaming sector has experienced a significant revolution. This sector has astonishingly impacted the financial market over the past few years. With this growth, many users have started to make virtual purchases through credit cards, such as buying in-game currency to win a level. However, such purchases expose them to identity fraud, restricting the growth of businesses selling these games online. Online gaming fraud is a process where scammers affect online gamers by exploiting their personal information for illegal monetary benefits.  

 

The regulatory bodies need to ensure that they direct the gaming operators to undertake an authentic online gaming fraud detection process. This can secure players from scammers by limiting their access to the platform, preventing fraud, and providing a seamless player experience. By implementing such practices, the operators can certify the onboarding of legal and verified players on the gaming platform. 

Classifications of Online Gaming Fraud

With the passage of time, scammers are devising new techniques to invade the gamer’s privacy. Such activities can cause financial losses, damaged reputations, and legal consequences for gaming operators. Some of the most common gaming frauds are stated below:

·         Credit Card Fraud

This fraud occurs when the scammers steal the gamer’s credit card information and use it for illegal purposes. Using this information, they can create fake accounts, make illicit purchases, and later sell these accounts on the dark web for hundreds to thousands of dollars. These unauthorized transactions affect the gamers and harm the gaming business’s reputation, leading to severe monetary loss. 

·         Credential Stuffing

Credential stuffing is a cyberattack where the scammers steal the login details using automation software. They crack account details and use them to sell the gamer’s account for in-game currency, leading to illegal account takeover fraud. Scammers can withdraw funds from these accounts and manipulate account information. 

·         Phishing Attacks

The scammers create a fake gaming website that looks legitimate, then manipulate the gamer into entering their account details. They use this information to undertake online gaming frauds. Another way of phishing attacks is to trick gamers into downloading malware on their devices, which can scam gamers by claiming to distribute the free version of the game. By installing such versions, gamers could download malware on their computers. This will allow scammers to steal their account’s identity and passwords. 

·         Money Laundering

The online video game industry is at risk of money laundering as it involves in-game monetary trades. Some video games prompt the gamer to enter credit card information to make online purchases using real money, and scammers can steal this information to undertake money laundering actions. 

Ways to Detect and Prevent Online Gaming Fraud

The regulatory gaming authorities have implemented certain identity verification procedures to perform smooth onboarding and to protect them from malicious activities. By doing this, game operating companies can create a smooth authentication process for the gamer’s security.

·         Implement User Authentication

Gaming operators can prevent online fraud by operating identity verification services in the form of face, document, and age verification. They can also implement multi-factor verification that requires the players to submit additional identity information. Companies can include anti-money laundering screening checks to secure the players from the harms of money laundering. 

·         Ensure Game Security

Companies need to ensure that they use additional security software so the players can enjoy their gaming services. Software like firewalls and SSL Encryption can allow the operators to filter out illegal traffic. These can ensure that all sensitive login and credit card information is secured. Operators should perform regular security audits that help them identify any flaws in the system.   

·         Make Verified Payments

Companies can enhance their security by adding certain verification steps during the checkout phase to confirm that the legitimate cardholder is making the purchase. They can address verification system checks to compare the billing address with the cardholder’s information used in the transaction.

·         Monitor User Behavior

The gaming operators can monitor the user’s behavior through fingerprints and email profiles. They can also conduct IP analysis for user verification. Certainly, the legal players would probably use older email addresses linked to their social media, and illegal users could use unlinked email addresses that may have been created for committing fraud. 

·         Maximize Machine Learning Use

Gaming operators can use machine learning and AI to identify fraudulent behavior. Using the latest technology, operators can target and block any account payment fraud and prevent chargebacks. These systems can analyze the user account and separate the illicit player from the legitimate one. The AI-powered programs can detect the activities of fake accounts and flag illegal purchases.

Summing It Up

The online gaming sector has faced significant losses over the past few years. But with time and technological advancements, gaming operators can avail machine learning and AI-powered identity verification services to combat online gaming fraud. Through these services, they can provide secure KYC services to gamers to streamline their gaming experience and improve the company’s reputation.    

Post a Comment

0Comments

Post a Comment (0)