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Just as sports enthusiasts bet on games, online gambling platforms also attract cybercriminals and scammers during major sporting events.
Sumsub said it also expects an increase in fraud with a traffic spike of over 400% at bookmakers during the 2022 World Cup in Qatar. In Q1 2022, he has already seen an 85% increase in fake account registrations compared to Q4 2021.
Its free online calculator determines how much fraud is likely to occur during the World Cup, depending on the business numbers you enter. Types of fraud experienced by bookmakers include arbitrage betting, multiple accounts, identity theft, account takeover, money laundering and age violations.
Sumsub will also help betting platforms handle unprecedented traffic spikes and keep fraudsters in check.
Sumsub Co-Founder and Head of Compliance Jacob Sever said: We understand how important it is to onboard customers quickly, but we also understand that we need to be as compliant as possible to avoid fines.
Sumsub provides customized solutions and compliance tips for the gaming industry, collected and repacked on the eve of such an important sporting event. We are here to help the betting platform in preparation.
Sumsub, which provides identity verification, AML screening, and continuous monitoring, advises:
