Report reveals 250% rise in online gaming fraud

Report reveals 250% rise in online gaming fraud

The report was made by a provider of identity verification services.

US.- AU10TIX, a provider of identity verification services, has published its Q1 2024 Global Identity Fraud Report. It says the online gaming market saw a 250 per cent increase in fraud instances during Q1 2024 compared to the same period last year. The primary contributor was payment fraud, which constituted 62 per cent of cases, up from 39 per cent of identity fraud cases in Q1 2023.

Half of the cases involved exploiting gambling operators’ promotional deals by creating multiple accounts. AU10TIX said using selfies for identity verification can be effective, particularly in combating document number fraud, which saw an 18 per cent increase in Q1 2024. Face picture fraud rose by 28 per cent while fraud attempts using selfies remained steady.

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Dan Yerushalmi, AU10TIX CEO, commented: “Organized criminal groups are increasingly leveraging AI for large-scale, coordinated identity fraud. Our advanced machine learning technology, fortified defense mechanisms, and collaboration with over 60 tier-1 companies empower us to detect and thwart this sophisticated fraud, often missed by conventional identity verification platforms. We remain dedicated to safeguarding our clients and pioneering innovative, future-proof solutions to effectively tackle emerging challenges.”