We usually hear about different industries incorporating technologies and advancing in various fields like banking, real estate, the health sector, etc. In addition to these advancements, various business entities and platforms have also addressed the need for improvised technology to be incorporated into the verification processes. Similar is the case in the gaming industry. However, it sounds like a domain where there would be a minimum need for identification because it naturally comes to mind that gaming is entertainment and what kind of a threat it can be. All these aspects are true to believe but the fraudulent parties are now targeting these platforms exploiting the widespread perception of gaming websites to be safe from scams and misusage.
Importance of Online Gaming Verification
Gaming platforms have the ethical responsibility to ensure compliance with legal regulations. They should make sure that no underage know your player gets access to their platform. Moreover, they should also verify the identity of their players to make sure that no minor individual takes advantage of someone else’s identity.
From an economic perspective, the gaming industry of a country could be turned into a valid source of national income because data from a research study shows that the gaming industry is likely to take 820 million users on board in the year 2023.
Online Gambling Frauds
There are some common online scams that occur in online gambling because of gamers’ lack of knowledge which makes them believe certain things to be true when actually that is not the case.
Usually, when gamblers are signing up for the first time. The players are provided with a small amount of bonus in cash as a token of appreciation. While signing up, the players usually do not bother to read the terms and conditions and blindly agree to them. The problem starts here because, in the section of T&C, the player is asked to give a certain percentage of the money that they will earn from every game. What is the scam then? Well, this condition is not written in a prominent readable format. Instead, the gamer may find it in some corner written with other guidelines that are usually not that critical to being followed.
Websites That Appear As Authentic
Another prominent scam that is done to fool the players, is the development of illegal or fake websites. These websites are most dangerous in gaming scams because no layman can doubt their so-called authenticity. These websites even show themselves as registered with legal entities. They are ready to provide apparently original documentation to justify their identity. But once they drain out the finances of a player after taking them on board, you will find them nowhere after that.
Verification Process in the Online Gaming Industry
Authenticating the ID of the player through digital verification because the AI-supported solutions help the gaming platforms to minimize the chance of error and extract accurate insights about players’ data.
- Verifying the age of players to prohibit minors from entering the platform.
- Putting restrictions on the spending limit of players. So that if anyone crosses the limit, can be identified quickly and taken offboard thereafter. But in exceptional cases, huge amounts of funds are deposited in the player’s account which requires the gaming platform to perform enhanced due diligence process to ascertain the nature and need of the transaction with maximum possible transparency.
- Verifying the sources of income to be spent on gaming through digital document verification so that no one dares to use forged credit or debit cards. In the case of minors, it will help the gaming platforms to verify the consent of parents for the financial support given to minor players.
Benefits of Online Verification in the Gaming Industry
- Boosts Confidence of the Player and the Gaming Operator
Digital means of identification allow the gaming platforms to authenticate the player’s ID with two-factor verification which is not only based on the player’s self-certification. The gamer is asked to upload a selfie along with an ID document which helps the gaming platform to authenticate the ID effectively. It develops confidence in the relationship by bringing relief to both parties with respect to safety.
- Strengthens Data Protection
With digital ID verification, the gaming platforms can protect their player’s financial and personal information from going into the wrong hands as these platforms require verification on each login from the player.
- Promotes Anti-Money Laundering
When the gaming platforms ask for verification from a player, it also assists them to identify if a person is subjected to the suspicion of being involved in money laundering. Because digital verification allows the gaming operators to analyze the name of the player in the government warning lists if that player belongs from a strong political background. This is done with the support of AI which is incorporated into the digital process of authentication.
Summing it up, we can say that the digital verification process is a sophisticated method that can prove to be a fruitful means for the gaming industry to combat the risks attached to its products and services. AI-supported verification process not only supports security concerns but also, can help the gaming industry to improve its global online presence.