15/04/2010, Online casinos

Online players shouldn't worry about the security issues of their personal data, especially about their banking information. What about you? Are you aware of the risks of an insecure online casino?
Do not take risks, it would be a pity!

Gambling fraud involves money laundering, credit card fraud, bonus abuse – such as the creation of multiple accounts in order to obtain multiple bonuses, false charge-backs, etc.

Online casinos are obliged to use the strictest security measures possible, to be vigilant in monitoring for fraud, to know the identity of each of their users, to ask for a valid email address and for a valid sign up or login, etc. Online casino should establish a channel of communication with their partners and share the information, for operating efficiently and effectively against fraud.

We will try to suggest you possible tools and tactics for preventing the fraud, what is the magnitude of the casino frauds, etc. People need to educate themselves on the fraud environment, as well as to understand the legal aspects of the fraud detection.
Outlaw casinos and fraudulent players sometimes use common methods in order to cheat and to steal money. One of the most common methods is the use of counterfeit credit cards or the use of the credit cards that do not have a specific limit to deposit money at the online casino and then, the attempt to withdraw these funds just before the casino to be able to detect the fraud.

Another scam used by the online players is to charge the transaction, so that they could not be charged by the credit card company, and then try to withdraw funds from the online casino. Online casinos usually call the special services of experts to detect and to prevent such fraud. The online service providers are continuously trying to improve their systems for preventing and detecting the fraud schemes.

Here are some particularly methods that can be applied in the gaming industry for preventing fraud:
- the ID verification. The ID verification allows the verification of the individual's identity through a user-friendly interface;
- the residence verification and history;
- age verification;
- phone and identity card verification;
- authentication question generator.

The GTECH G2 Group is a leading provider of online gaming services. Thanks to its subsidiary Finsoft, GTECH G2 Group provides the MarginMaker, a software platform. Iovation is yet a pioneer in preventing online fraud methods.
GTECH G2 and Iovation signed a partnership and announced the latest Iovation technology which will be integrated into the MarginMaker software. This will allow gambling operators using MarginMakers, to manage in real time the risk, arising from the fraudulent use of credit cards.

Iovation maintains the largest database of the world stories of fraud. Their database system controls the number of the debit card and even the identity number of the computer used by the player.
If a player has any connection with a prior fraud, the transaction is immediately stopped and the database is updated. The system is able to recognize the computers used by the cyber-criminals and it prevents all transactions made from these computers.

“The service provided by Iovation has proven itself to be extremely successful for so many companies in the online betting industry—it absolutely makes sense for us to include it in our fraud management process. Iovation allows us to offer our customers the best device-based fraud protection technology that exists,” said Predrag Popovic, Chief Technology Officer of GTECH G2 and CEO of Finsoft.

Ethoca Limited is another company that offers new and innovative methods, based on its Ethoca360 Signals technology, for preventing fraud. Ethoca controls the online transactions in real time through the Global Alliance of fraud (GFA), which currently contains a history of more than 500 million fraudulent transactions.