The Surge of Online Gaming Scams
: Online gaming frauds lead to many risks which can harm the customer’s gaming experience. Identity verification helps in eradicating fraudsters and pulling out genuine users.
Kids, teenagers, and even adults can be seen addicted to online gaming which makes them vulnerable to online frauds and scams. Online games’ popularity has surged in recent times, which not only provides benefits to the game developers but scammers are also thrilled to see a spike increase in the numbers of mobile gaming too.
A Surge in Online Gaming Scams During The Pandemic
As the pandemic prevailed around the globe, economic disruption was seen yet the mobile gaming industry was thriving with increasing numbers. People stayed at home which let them move towards the virtual world concept and as an escape mechanism, they connected with friends as well as strangers online. This eventually opened the doors for many scammers and fraudsters.
According to Irish Times, US Video games were seen to have an increasing number of game sales in over a decade in March. People were seen to spend a significant amount of time while playing online games, which also led to spending more money on them.
Malware Problems Giving Rise to Gaming Frauds
Gaming Scams artists use various ways to trick people and pull out their personal and financial information which they, later on, use for dangerous purposes. One of the common risks of online gaming is downloading malware. Users are directed to third-party sites through advertising ads in a game and their devices are infected with malicious data. Once the cybercriminals are able to succeed in letting you download a game infected with malware, they can capture your details both on a personal and financial level after which they can log on to your accounts through passwords or break into your online bank accounts.
Online gaming, if not verified through document verification, not only disrupts your gaming experience yet poses a threat to your identity information. The best way to deal with such situations is to download or play games online on legitimate websites and beware of playing games on sites that you are not familiar with often otherwise you might become an attack to gaming frauds.
In-Game Purchases Leading Towards Credential Stuffing
A lot of games offer users an option in which they are requested to download a specific version of the game which lets them use certain features and after a certain amount of time it asks the user to buy the premium service in order to avail themselves of its full-fledged features. Scammers often use password and username combinations that have already been stolen to hack into users’ accounts and take out their information. Such tricks do not have a high success rate as compared to the attempted log-ins.
When hackers do get access to a user’s account, they can have access to the credit card credentials and can make fraudulent purchases. Now to fix such problems, strong passwords should be set with heavy combinations to make it difficult for the scammers to get access to accounts.
Why is Online Gaming Verification So Important?
Know Your Player (abbreviated as KYP) as a part of an identity verification solution helps gaming operators to verify the identity of the users playing, comply with their security concerns. In this regard, customer due diligence in gaming is useful in gathering data about consumers, filtering, and assessing the data in such a way as to provide them with a better gaming environment. If any risk factors are laid out, actions are taken accordingly.
Online gaming verification with KYC unleashes an opportunity to make an ID verification process through laying out data and configuring whether an individual is really who they say they are or not. Next, in order to legally play games that are based upon online casinos, gambling requires an age verification form in gaming which is also verified by KYC. This acknowledges the point that new players coming into the online gaming market is genuine without any threat and are old enough to play on gambling sites.
The significance of online gaming verification is identifying players and eliminating scammers, as well as letting them reduce the probability of identity fraud and tackle money laundering problems efficiently.
Concluding and Protecting Oneself From Online Gaming Frauds
Looking to the future of the online gaming world, it consists of cheating, malware problems, fake accounts, credential stuffing, and much more that can exploit a customer’s online gaming experience. As it has its own risks and benefits, it’s important to stay updated about the evolving threats and produce such regulations through which the player’s gaming experience can’t get halted. Gaming operators need to find a balance between managing their own growing profits and providing online gaming safety to the customer’s identity. In addition to this, gaming verification helps in setting up borderlines for users to follow. Every day, new risks, new threats are posing, so to tackle such factors, along with the gaming operators, users also need to carefully use the gaming platform smartly to avoid fraudsters. It just requires identifying such scammers and taking the necessary steps to eradicate them.