Coronavirus pushed the people to their homes, reduced physical interactions to a minimum, and turned people to the virtual world to escape from the crisis. US video game sales reached the peak and the gaming industry reported a notable increase in the number of users.
But the increased engagement of the audience highlighted the threat of online gaming as the coronavirus scammers desire to take advantage of the situation. As many online games require in-game purchases, in-game currency, and real-world currency, they are a target for scammers.
The young generation is less aware of such fraudsters and is more prone to them. To know your player and avoid the risks of online gaming, keep reading.
Requirements of Gaming Verification Procedure
Verification of the player’s identity is essential to ensure regulatory and jurisdictional gaming compliance.
Online Identity Verification
Identification and verification of the one going to play with you is the basic requirement of Customer Due Diligence in gaming.
Requirements of certain games compliance make sure that there is no gaming activity prior to the age verification of the player.
Operators are demanded who can maintain the record of players which includes their identities as well as client relations.
Enhanced Due Diligence
There are certain cases in which operators are compelled to ask for additional information from a player to check their risk profile.
Limiting Player Spending
To know your player better, it is essential to set limits on the player’s spending, allowing any additional spending once the affordability check is done.
Risk Sensitive CDD
Customer Due Diligence is applied on a risk-sensitive basis which is a general rule to verify identities.
How does Online Gaming Verification work?
Gaming verification is required to know your player before you start the game to prevent any gaming frauds. The process only takes three simple steps to complete which are as under:
- The player is asked to capture and upload a photo of their identity document.
- Data is extracted from that given document.
- The identity of the Player is verified by checking all the information provided.
Benefits of Online Gaming Verification with KYC
Here is how KYC solutions benefit the gaming industry.
The online verification of the geographical location and age of the player helps them to sign up and play games without any friction.
The biometric verification of the players helps to prevent identity thieves from taking advantage of the casino perks.
Quick Player Sign up
A swift online authentication of the players helps lower the rate of shopping cart abandonment.
Prevent Soft Frauds
Matching the selfie of a player with the picture present on the ID document helps the operators to onboard authentic players and avoid all kinds of soft frauds.
Following KYC CFT/AML Protocol
Digital identity document authentication helps to comply with the AML and Know Your Customer requirements of the gaming industry.
Scale Up During the Crunch Time
The AI-powered ID document authentication helps in the fast onboarding procedure of the players in the gaming season when there is fierce business competition going on.
Tips for Online Gaming Safety
Here are the tips to ensure the safety of online gaming.
- Whenever you are going to make purchases related to any game, make sure the website that you are using is authentic. Avoid clicking on those links that just redirect you to third-party websites.
- Do not ever respond to such text messages that ask you your financial, banking, and personal information. Even if it comes from the gaming industry, remember any legitimate entity never asks you to provide your personal data or information through messaging.
- Avoid sharing identifying data, personal information, or your account information online. And don’t share your login credentials even with your friends.
- Always use a strong password whenever you create your account. A secure and strong password is one that includes lower as well upper case, and numbers and symbols. Moreover, avoid using the same password for your multiple accounts.
- Never ever click on the link that asks you to reconfirm the passwords of your account. Instead, delete all those emails that require you to update your login details.
- Try to avoid using debit cards when you make purchases as credit cards usually offer greater security.
- Use two-factor authentication. This means whenever you are going to access your account, besides putting in your password, you are asked to enter a security code sent on your email or mobile number to log in to your account. This prevents your account from getting hacked.
The online gaming industry is growing exponentially and is expected to grow further. As fast as the gaming industry grows, so are the risks of gaming thefts. KYC and AML solutions help in gaming checks to Know your player and combat fraudsters.