How the E-Gaming Industry Can Tackle New Account Fraud
Detecting e-gaming fraud isn't easy. New account fraudsters fly easily under the radar, causing great damage. Here's how you can detect and prevent such fraud.
Daniël de Jageron September 1, 2022.
Online gaming businesses often offer incentives to attract new customers, but nefarious actors use these rewards as an opportunity for fraud. New account fraud is when a fraudster opens multiple accounts at once to hoard the bonuses offered to new users, compiling the rewards meant for one person over and over again.
Tactics for New Account Fraud Detection
Detecting e-gaming fraud isn't easy. Manually monitoring all new users and trying to figure out which ones may be fraudsters is borderline impossible for a human. However, monitoring metrics for overall user engagement should reveal a sudden uptick in accounts that receive the incentive and show no subsequent gaming action.
E-gaming businesses can also detect new account fraud by checking the IP addresses responsible for multiple accounts, or if there's any other pattern present with these new accounts such as a similar username or email domain.
Best Practices for Fraud Prevention
Prevention is always preferable to putting out fires, and this is especially true with new account fraud. We've already established the impracticality of manually checking every account request for authenticity before approving it. The most effective prevention solution is to deploy automated account approval tools that unobtrusively check whether the user's behavior is fraudulent or not.
An advanced AI platform like nSure.ai is the answer. nSure.ai's machine learning software detects and intercepts fraud attempts near-instantly while leaving legitimate users undisturbed. The platform analyzes multiple data points at once, including on-site user behavior, to catch bots and stop fraudsters in their tracks.