But how do cyber criminals commit these acts and what prevention methods exist? There are effective fraud management tactics that can reduce risk. A robust fraud management solution is needed to compete in this incredibly competitive, rapidly expanding industry.Ĭhargebacks, account takeovers, payment fraud, and high risk transactions - including deposits and withdrawals - are problems operators face daily. Cybercrime is becoming increasingly sophisticated. However, implementing fraud strategies that cover more than the bare minimum is wise for operators. While jurisdictions vary by region and state, betting operators are required to enact some checks and balances to protect players. Most iGaming companies’ fraud operations have a single goal: enable business growth while minimizing risk and losses. However, with this massive growth can come greater risk of fraud. Sports betting was not immune and many customers opted to try online gaming. With many businesses being forced to close, activities commonly done in-person had to be completed online. The COVID-19 pandemic caused a shift in how people interact with the world. Online growth has exploded in the past few years.
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