How to reduce bonus abuse in Gambling & Gaming?
Bonus abuse is a persistent challenge in the Gambling & Gaming sector, where marketing strategies such as welcome bonuses often become a target for fraudsters. This phenomenon results in significant financial losses for businesses and jeopardises the sustainability of their promotional strategies.
What is bonus abuse?
Bonus abuse occurs when fraudsters register multiple times on a platform to repeatedly claim bonuses intended for new users. This is typically achieved using fake, stolen, or synthetic identities.
The most commonly exploited types of bonuses include:
This issue impacts businesses not only financially but also in terms of reputation and compliance. It undermines their ability to meet regulations such as Know Your Customer (KYC) and Anti-Money Laundering (AML).
How can bonus abuse be prevented?
Implementing advanced digital identity verification and multi-biometric authentication technologies c can have a significant impact.
Whether it’s during the onboarding process or at the point of fund withdrawal, our technology ensures a seamless and secure experience. By cross-referencing information with public and private databases, it prevents individuals from creating multiple accounts on the platform or withdrawing funds undetected.
How do we carry out this process at Facephi?
Recommended by LinkedIn
By leveraging these technologies, businesses can safeguard their promotional strategies, reduce fraud, and build trust with legitimate users while ensuring compliance with regulatory standards.
We can meet at ICE Barcelona!
One of the most important events in the Gaming industry will take place from 20-22 January 2025 at the Fira Barcelona Gran Via. It’s a great opportunity to discover our solutions firsthand and explore the best opportunities for your business together. You can schedule a meeting with our team here.
We partnered with IATA to drive 100% digital air travel.
We are thrilled to share our role in this breakthrough with the International Air Transport Association (IATA). In a successfully conducted pilot test, two passengers travelled between Hong Kong and Narita airports using only digital credentials and biometric data, eliminating the need for physical documents. This milestone marks a significant step towards the future of fully digital travel. Discover the challenges faced during this project and how our contribution ensured its success. Read this news
A guide to fraud management
Fraud is a growing concern for organisations across industries. The use of biometric technology has emerged as a promising solution to combat fraud, providing a more secure and accurate means of authentication. Download our guide today to learn more.
Continuous Adaptive Trust: The evolution of Zero trust
A Zero-Trust method involves the continuous and dynamic assessment and management of risks associated with every access or transaction occurring within a platform. This approach treats each access or transaction as an event, constantly evaluating and adapting trust levels to ensure appropriate security measures are in place. Discover how you can strengthen cybersecurity in your company with this method. Learn more.