As online gaming continues to grow in popularity, so do the risks associated with it. Online gaming fraud is becoming increasingly common, and it can take many forms, from fake online gaming websites to phishing scams and unauthorized access to gaming accounts. To protect yourself and your assets while gaming online, it’s important to be aware of the warning signs of fraud and take steps to prevent it. In this article, we’ll explore the top tips to detect and prevent online gaming fraud, so you can enjoy your gaming experience with peace of mind.
This blog post will provide tips to detect and prevent online gaming fraud so gamers can enjoy their gaming experience without worrying about falling victim to scams.
So let’s dive in!
Top Online Gaming Frauds
As the experts review, there are three types of online gaming fraud. These types are mentioned below.
Multiple Account Fraud
Multiple account fraud is a prevalent form of online gaming fraud. In this scam, scammers make multiple game accounts and play games with these accounts. In the process, the legitimate account holder is sidelined, increasing the scammer’s probability of winning.
For instance, this method is used in online gambling, such as poker games. Here the fraudster will join the game using multiple accounts. By doing so, fraudsters can alter game outcomes and eliminate other legitimate players from the game. This will make them earn more money through fraudulent means.
Bonus Abuse
Bonus abuse scam is directly related to multiple account fraud. Here a scammer opens multiple gaming accounts and leverages the special offers. For instance, these offers can include and may not be restricted to referral programs for new customers, specific in-game bonuses like coupons, or the ability to purchase rare items. Scammers can then sell these items, withdraw funds, and permanently disappear from the account. These fraudsters are so quick in these tactics the authorities can’t even identify the fraud quickly. They only realize that when they witness losing revenue.
Account Takeovers
In the account takeovers scam, fraudsters gain unauthorized access to existing accounts by acquiring login credentials. They obtain this sensitive information through data breaches on the dark web.
Nowadays, fraudsters also use automated software to test thousands of username and password combinations until they find a working one. This process is known as “credential stuffing.”
After accessing the hacked account, the fraudster sells in-game items for in-game currency or the entire account for cash. The victims of this type of fraud are often gamers who have invested significant amounts of time and money in leveling up their characters. On the other hand, the buyers for these accounts are often less advanced gamers looking for an easy way to progress quickly.
How To Prevent These Frauds?
Preventing these frauds can be challenging. But now, when you go through what experts review in this section.
Digital Identity Verification
Gaming companies should collect as much information as possible from their users. For instance, they can ask for the user’s IP address, geolocation, email address, and other data. By gathering this information, enabling solid passwords, and two-factor authentication, game owners can ensure they know who’s using their site.
Leverage Data Enrichment Process
A fraudster will likely generate a new email address to register for a gaming account. However, a genuine person will use an older email address. Gaming companies can leverage this fact to their advantage. They can use data enrichment processes ‒ which means they can track beyond just a user’s identity information. The system will enable owners to locate the red flags and avoid fraud.
Conclusion
With the rise in the gaming community, the risk of online gaming fraud has increased. Gamers must be vigilant and take necessary precautions to protect themselves from scams. By understanding the three major types of fraud, including multiple account fraud, bonus abuse, and account takeovers, gamers can be more aware of potential threats.
Additionally, by using digital identity verification and leveraging data enrichment processes, gaming companies can take steps to prevent fraudulent activities and ensure the safety of their players. With these measures, gamers can enjoy their gaming experience without worrying about being scammed.