Article first published on sumsub.com/blog
Online gaming fraud is on the rise in the iGaming industry. In Q2 2021, the suspected digital fraud attempt rate rose 393% year-over-year. Meanwhile, in Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021.
What is online gaming fraud?
iGaming fraud can take on many forms, including cheating, the use of illegitimate websites, and account takeovers.
While players are undoubtedly affected by gaming fraud, iGaming platforms themselves also suffer due to damaged reputations, huge financial losses, and legal consequences.
To avoid fraud, platforms should know their enemies by face. That’s why we’ve gathered all the most common iGaming fraudsters in one room. Learn how to stop them – click to continue.
About Sumsub:
Sumsub is a full-cycle verification platform that secures the whole user journey. With Sumsub’s customizable KYC, KYB, Transaction Monitoring and Fraud Prevention solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.
Sumsub has over 2,000 clients across the fintech, crypto, transportation, trading, e-commerce and gaming industries including Wirex, Avis, Bybit, Huobi, Flutter, Kaizen Gaming, and TransferGo.
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