SOFTSWISS reported a decline in gambling fraud notifications in the first quarter of the year.
The company’s global anti-fraud team helped operators save around €6 million ($6.7 million) in the first half of 2024, a third less at risk compared to last year, according to newly published data.
Including operator and verification requests, fraud and responsible gambling notifications, the anti-fraud team handled around 54,000 tasks during the first six months of the year, which is down 8.5% year-over-year.
Ilya Nesterov, Anti-Fraud Team Lead at SOFTSWISS, noted: “The most common types of fraud our team deals with are bonus abuse, identity theft and documents forgery, which account for almost 90% of all fraud cases.”
In addition, SOFTSWISS noted that player complaints submitted to regulators or at industry forums have risen by 12.4% YoY in H1 to 118. The firm claimed that its expertise in analysing these cases helped operators resolve issues and save nearly €250,000.
Nesterov added: “We are pleased to see the number of operators’ requests and fraud notifications slightly decreased this year. This trend also testifies to a more responsible attitude on the part of players.”
A risk scoring tool was recently implemented by SOFTSWISS’ anti-fraud team, which helps to spot potential issues in real-time, assisting clients in taking “proactive measures” and providing a “safer gaming experience”.
The company noted that its anti-fraud team helps to produce a more secure operating environment for clients by “using advanced tools and methodologies to effectively mitigate fraud attempts, including bypassing restrictions and breaching terms”.
Earlier this year, IDNow and SBC Media conducted a study into the biggest compliance challenges facing operators in 2024 and how they would evolve through the year. The study covered four different areas – compliance, fraud, onboarding and financial risk checks – and can be viewed here.
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