Where every single business sector experienced major setbacks during the covid pandemic, the gaming industry seemed to thrive amidst the chaos. The reason for the industry to prosper during the worst of times was that it provided people the much-needed break from the torture confinement. As the government imposed strict lockdowns and people were restricted to their homes for God knows how long, aloof from the social interactions, they started searching for their mode of escapism. Gaming turned out to be the go-to for people as they found relief there and experienced a bit of social interaction there as well. According to a study, the year 2020, experienced the highest video game sales record of around $56.9 billion which was nearly 27% higher than the last year (2019).
However, with the rapidly increasing audience engagement on the gaming websites, the local and global regulatory authorities received several fraud reports. Upon Investigating into the matter, it turned out that the gaming websites lacked adequate protocols to prevent the fraudsters from disrupting the systems. Therefore, the Financial Action Task Force (FATF), and other regulatory authorities made it mandatory for the gaming websites to implement adequate Know Your Player solutions for the purpose of fraud prevention.
Understanding Know Your Player:
Similar to Know Your Customer (KYC) regulations, the Know Your Player solution performs the function of verifying the player’s identity before granting access to the gaming website. The identity verification process makes the player undergo several authentication protocols that require them to submit government-issued Identity documents for verification. The documents include an ID card, Drivers License, and or passport. As soon as the scanner captures the documents, the automated AI-based verification process analyses the details and authenticates the identity. Apart from the aforementioned documents, some gaming websites also demand the player’s financial information for security purposes.
Steps to get the player’s identity verified:
The gaming websites with adequate integration of Know Your Player protocols follow authentic extensive steps to validate the player’s identity and grant him access. The process of gaming verification involves the following steps that every gaming websites follow:
- The player enters his date of birth.
- Captures and uploads a selfie.
- Submits the required identity documents.
- The Optical Character Recognition technology extracts the necessary details from the documents for verification.
- The selfie is verified with the identity picture on the document.
- Once the details match the gaming compliance protocols, access is granted to the player.
Importance of Age Verification in Online Gaming:
For the purpose of online gaming safety and to prevent minors from accessing websites restricted for adults only, online gaming verification with KYC performs the age verification procedure. By making the player undergo the age verification process, minors are protected from being subjected to gaming scams. Considering the surge in audience engagement towards online gaming, it has become mandatory for all of them to implement strong customer due diligence in gaming that can instantly detect any suspicious activity taking place. The scammers have left no chance to disrupt the gaming websites and attack the players.
Most Common Gaming Scams to be Aware of:
Complying with the modern-day technological advancements, the scammers have adopted advanced techniques to scam the players and steal their personal and financial information. No matter how much of a pro gamer one might be, they definitely fall for their scams as they have become so deceiving. The most common techniques to disrupt the gaming compliance systems are as follows;
- Offering Fake Power-Ups and Cheat Codes: The scammers are well aware of the fact that various online games these days require power-ups to advance to the next level and earning them is a difficult task. What they do is, offer fake power-ups and cheat codes to the players by bombarding their message space. Since the gamers know that earning them is difficult they don’t mind spending thousands of dollars in buying them. As soon as the gamers transfer the amount, the scammers disappear.
- Credential Stuffing: The most common tactic used by scammers to access the player’s account is through the credential stuffing. To do so, they use the already stolen usernames and passwords that are listed on the dark web. With the help of automated software, scammers access the gaming websites such as Blizzard, Steam, etc. Although the scammers have a tough time finding desired websites for the login credential, when they do, they steal the users’ sensitive information including their financial as well as personally identifiable information.
Downloading Unlimited Games Scam: The players often come across texts and emails that offer them access to download multiple games for free with just a one-time payment of a few dollars. Unfortunately, the players fall for this scam and lose money to the scammers. Either the fraudster disappears as soon as he receives the money or he sends a link infected with malicious software that steals the user’s personal information.