The weekend of Black Friday and Cyber Monday is one of the biggest shopping weekends in the world. It happens from the 24th of November until the 27th. All customers will be trying to do as much Christmas shopping as possible because of the cut prices on products.
Jumio, an online payment and identity verification provider, has said that that online gambling has experienced high levels of fraud in this shopping weekend. The industry has been affected more than any other sector with attempts at 60%. In comparison to the year before, fraud has increased by 4%.
Other industries have also experienced a decrease in fraud, and it continues to decrease year on year. Sectors such as retail, travel, financial services and others saw a decline of 25% of detectable fraud.
Jumio Warned Online Gaming Operators
Jumio has given online gambling operators a warning about the dangers of fraud in the black Friday shopping frenzy. It was just a heads up for them to look out for fraudulent attacks that may spike because of this event.
According to this online verification company’s head of gaming, Anies Khan, the fraudulent case took place mostly on registration of new accounts. The reluctance to have extra safety measure for the registration process was one of the reasons for fraud attacks. It is because the online casino gaming operators wanted to give players a smooth and seamless sign-up experience.
The report on these fraud cases suggests that online gambling casino sites have to reconsider how they can protect themselves from this problem. Khan suggests that online casino sites set up stricter verification solutions to deter fraud incidences.
It is in the interest of any online casino site to protect its players and themselves from any cases of fraud. Hence, it is important that they have security measures in place to make sure that it is done. There are identification verification methods that can be used such as the biometric facial recognition. However, this is not the only security measure that is available to casinos online.