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Anti-fraud software provider SEON analyzed proprietary data points to provide insight into various fraud landscapes around the world while identifying questionable techniques that are constantly abusing the gaming market.
The results of this study culminated in the company’s latest report.The State of iGaming Scams in 2023provides an overview of how this particular area of fraud is evolving around the world.
This report categorizes the global i-gaming market into eight major regions. For example, European scammers prefer to use sophisticated tools such as virtual machines to bypass robust risk management systems. Asian scammers, on the other hand, derive most of their scam value through basic click farm type bonus abuse setups.
As our findings show, all regions face fraud challenges today, but there are significant differences in the ways and techniques that scammers deploy to reach their goals.
This report highlights how common bonus and promotion abuse is across i-gaming scams.
Scammers were found to be abusing bonuses and promotional marketing offers, usually aimed at new customers, by signing up for the service multiple times and earning fraudulent bonus payments in the process. .
After analyzing over 365,000 user actions, the company found that fraudulent players used bonuses 2.7 times more than legitimate users. In some regions, such as Latin America, where approval rates are up to 70% higher, this kind of bonus abuse has become very common.
Similarly, the study shows a lower fraud rate across affiliate signups, at 12.77% compared to 19.24% for fraudulent signups using affiliate IDs. Despite this, affiliate fraud is still more common in the i-gaming sector than in any other sector.
As for the new report, Tamas KadarSEON’s CEO and co-founder explains how he “examines the fraud landscape in this fast-growing sector” and shares his findings with those in the sector who want to stay ahead of fraud. I suggest it as a “must read”. High-risk and fraudulent actors.
As our research shows, the lure of flashy bonuses, quick access to money, and virtual online wallets continues to be too tempting for organized criminals and habitually abusive users. , adds Kadar.
“But while all scammers ultimately want the same thing, the methods they use to commit their crimes are vastly different.
Operators that span multiple markets or plan to expand into new geographies should [report] To learn more about these nuances and avoid costly regulatory fines, he concludes.
