There are several ways to protect your account from gaming fraud. First, monitoring your account regularly and avoiding any suspicious activity is crucial. Fraudsters can also exploit bonus campaigns or other incentive schemes. This practice can cost you as much as 15% of your gross earnings. In addition, you should avoid creating more than one account or allowing one account to be a backup for another, known as an account takeover, which can lead to fraud.
Site monitoring
Site monitoring is a crucial component to prevent gaming fraud. The consequences of such crimes are costly and can even break companies during a critical growth phase. By keeping track of incoming and outgoing transactions, site monitoring can ensure that fraudulent activity is stopped before it happens. However, it’s important to remember that site monitoring isn’t foolproof.
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Aside from preventing fraud, it can also save online gaming companies money. It will help them exclude obvious fraudsters from their onboarding processes. In addition, site monitoring prevents gaming fraud by detecting abusers early on.
Phishing
The internet is full of fake gaming websites designed to trick you into giving them sensitive financial information. These fake websites may appear legitimate but malicious and will infect your device or steal your privacy. These sites can also steal your IP address, a unique online location, which is how hackers can access your financial data or game account information.
Fortunately, there are measures you can take to protect your identity. Using strong passwords and monitoring your credit card history and in-game purchases are all key ways to keep your gaming identity secure. Unfortunately, scammers don’t want to be outwitted, and they’ll soon move on to easier scams.
Account takeover
One way to combat account takeover is to use multi-factor authentication. ATO attacks have been successfully repelled utilizing this strategy. However, gaming and gambling services are concerned about the impact on the user experience. Hence, generalized multi-factor authentication could dissuade users from accessing their services. Behavioral biometrics can also be a powerful tool in preventing ATO attacks. Behavioral biometrics can help identify suspicious user activity and step up authentication challenges when needed.
Account takeover fraud usually starts with a hacker stealing sensitive information from customers. After gaining access to a person’s online account, fraudsters may change delivery addresses, order new cards, or even change passwords. Some victims may even experience blocked accounts until they pass additional verification.
Device flashing
Cybercriminals have discovered a new way to circumvent anti-gaming software: Device flashing. This method involves changing the identifier of a mobile device to conceal the fact that it has multiple users, which allows criminals to perform illegal activities without raising suspicion. However, it also has some drawbacks.
Device flashing is not the only solution. Device hashing is another way to detect fraudulent activity. It works by providing a unique ID based on hardware. It also helps see virtual machines and emulators.
Item and currency trading
The game industry faces many challenges regarding combating item and currency trading fraud. This type of activity can be highly profitable to some people. However, it can also result in charges being filed against game companies. As a result, it is essential to prevent item and currency trading fraud wherever possible.
Players should always be aware of their transactions to prevent this type of fraud. For example, they should not use credit cards to buy and sell gaming currencies. In many cases, these transactions are done with the intent of using the money to commit identity theft and financial fraud. When this happens, victims won’t even know they’ve been duped.
