Interactive ONLINE FRAUD PROTECTION
fect opportunity to engage in money-laundering often linked to wider organised criminal activity. Once illegally gained monies are put into an online casino and turned into winnings the money becomes very difficult to trace.
As early as 2013, online games such as Second Life and World of Warcraft were being used to launder money through their online currencies. By using the virtual currency systems in online games, criminals can send virtual money to associates in another country, which can then be transferred into real money, posing just as much of a threat as money laundering through online casinos.
In an even earlier case (2009 to be exact), leading UK games developer Jagex was hit by fraudsters using stolen credit cards to earn virtual currency which was then sold on for real money. Jagex is behind highly pop- ular MMOs including the acclaimed RuneScape and could not afford to let its hard earned brand image be tarnished by fraud. As part of its fight back against fraud, Jagex initiated Kount’s fraud prevention system. Kount cut Jagex’s rejection rate, enabling it to accept more sales while holding its chargeback rate at about 0.2%. Net credit card income rose by about 4% a year,
Online gaming is about fun and the chance to earn profits and/or kudos in online
environments. Whether these
environments are online casinos or virtual worlds the key to ensuring a player enjoys their time spent in said environment
while its conversion rate on membership subscriptions rose by between three-four per cent.
When fraud goes unchallenged in the gaming or gam- bling world, brands suffer. Gamers may not know exactly why they feel the game is not fair or that they simply cannot win, but when they do they start to can- cel their memberships and a drift away from the game. The games/gaming community are more active than the average consumer and tend to “talk” more about their experience with different games in online chat
rooms, gamers forums and the like. As a result, when a negative reputation begins to become established, whether in an online casino or in an online game, these establishments quickly lose sales and become less profitable. Acting before fraud happens works to safe- guard the business in the present and protects it for the future.
On the positive side, gaming and gambling companies also want to know who their best customers are. This is so they can treat them in a way that makes them want to return more often through special promotions, put more money in their accounts for play, and approve them faster for larger spending. When a player creates an account or returns and logs in, proper fraud detec- tion can be employed to point out VIP customers or potential VIP customers as well as deny fraudsters entrance at the same time.
Online gaming and gambling is about fun and the chance to earn profits and/or kudos in online environ- ments. Whether these environments are online casinos or virtual worlds the key to ensuring a player enjoys their time spent in said environment and returns is to ensure that their experience is as fair and as enjoyable as possible.
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