Fighting Exponential
Fraud in iGaming

The iGaming sector has exploded within the last (3) years and is expected to grow to $545.98 Billion in global market size by 2028. But with more success (and unprecedented revenue) comes more threats, increased risk, and more fraud losses.

AuthID.ai offers a privacy-preserving, device-agnostic, passwordless biometric multifactor authentication (MFA) solution that addresses the common challenges and growing complexities security professionals face when fighting fraud in iGaming.

Our Verified TM solution is comprised of three core components that end promotional abuse, reduce chargebacks, defend against card-not-present-not-present (CNP) fraud, and decrease the overall incidence of fraudulent activity throughout the customer journey continuously:

  • Built-in ID Proofing
  • Built-in Anti-fraud
  • Passwordless Biometric Authentication

Fraud Prevention Challenges in iGaming

According to available research on the state of iGaming- there has been exponential growth in the number of threats and attacks facing both players and iGaming providers. This growth presents numerous challenges in the prevention of fraud and data breaches in iGaming. These challenges include:

  • Credential stuffing increasing 224% year over year
  • Promotional abuse and affiliate fraud
  • Chargebacks and identity verification
  • Card-not-present (CNP) fraud
  • Synthetic identities and account takeover

Persistent criminals are driving the extreme increase in attacks for the iGaming sector, as well as the need for a persistent, flexible solution that will be present wherever they attempt to gain access is necessary.

How Verified Platform Can Help

Defend Against Credential Stuffing

Last year, the iGaming industry faced more than 10 billion credential stuffing attacks. These common account takeover attacks are often successful because users recycle their credentials – enabling credential reuse as a vector. Passwordless biometric authentication defends against credential reuse, brute force, and other password-related attacks by completely removing password risks and requiring the live face of an authorized user for login. For organizations that would like to add facial biometric authentication to their current workflows —n place of going completely passwordless—this real-time requirement would protect accounts even in the event of a password compromise.

 Stop Promo Abuse and Card Not Present Fraud with Higher Identity Assurance

Built-in ID proofing available at Day Zero stops the enrollment and registration of synthetic identities. Users are required to submit valid documentation and the live face of the registered user to complete the ID-Proofing and enrollment activities; this establishes trust on first use and closes common vectors for fraud. It also removes the friction between ID proofing and authentication within point solutions by being a part of one seamless workflow.

Significantly Reduce the Incidence and Business Impacts of Fraud Across Channels

Flexible implementation stops cross-channel fraud continuously throughout the customer journey. authID’s solutions are API driven and can plug into anywhere our customers use to touch their customers, including:

  • Contact centers
  • Chatbots
  • Applications

Win Chargeback Disputes

Chargebacks, in general, are hard to prove, but the massive number of iGaming players makes this even more difficult for security professionals. Chargebacks are caused by first-person fraud; in iGaming, the scenario may look like this: A new user creates and funds an account but loses money placing bets. This user may contact the bank to refute the transaction claiming that it is fraudulent, which will cause the bank to reverse the transaction.

Verified protects against first-party fraud by requiring the face of the account holder for successful login and transactions; can confirm receipt of a product, file, communication, or anything else by having the user verify themselves at any point in the customer journey that our customers want.

By requiring the face of the user and logging their activity, we can help gaming organizations win chargeback disputes and recover fraud losses.

Why Auth ID- Key Capabilities

Verified addresses the most common challenges regarding CIAM and fraud prevention in gaming with several key capabilities.

High Identity Assurance

Facial biometric authentication is performed by our software, performing a liveness analysis of user captured selfies taken in real-time at any point in the customer journey you choose. The process is simple and highly adoptable as taking a selfie is an everyday activity that requires no training and infrequent troubleshooting.

Adaptive Step-Up

Organizations can customize where step-up authentication occurs within the customer journey to stop fraud in real-time by requiring the live face of an authorized user to complete a transaction or take an action.

Built-In ID Proofing

Verified can ID proof, enroll, and login in seconds, securing onboarding activities no matter where they occur by ensuring that your consumers receive valid identification.

Primary Device Access

Verified has no secondary device dependence. Users authenticate from their primary device giving organizations higher assurance that the user is who they say they are and that they are in control of the device being used for access.

Key Benefits

VerifiedTM provides several key benefits to iGaming organizations who choose us.

Improve efficiency, reduce costs

Get started quickly and scale efficiently with an easy-to-implement solution that requires no additional hardware, training, or mental burden on the user or the administrator for implementation. In addition, VerifiedTM can also be called within existing apps and integrate with other cybersecurity tools.

Protect your brand and reputation

Protect against negative impacts of a security breach like customer attrition, shareholder value loss, and other cyber threats to business continuity by deploying VerifiedTM across all customer servicing channels, including email, voice, and chatbot, significantly reducing the ability for fraudsters to slip through transactions.

Deepen relationships with customers

Prevent customer attrition due to data loss and breach when using VerifiedTM to log in and step up before transactions by employing an innovative, easily adaptable authentication process and improving MFA’s user adoption rate with a familiar action that requires no training.

Lower total cost of ownership

VerifiedTM can “drop-in” and act as a second factor of authentication in legacy MFA workflows to remove the risk of password compromise. Get the benefits of a fully passwordless authentication solution like eliminating password risk- without the investment necessary to maintain and establish a new passwordless solution.