According to the Digital Identity Tracker by PYMNTS and Jumio, using selfie biometrics in gaming platforms can help protect advertising revenue and safeguard customers against credential theft. With online gaming accounting for 75% of all in-app spending and expected to generate $159.3 billion in global revenues this year, this is a major talking point.
Biometric technology can help confirm the age of players during sign-up and prevent cybercriminals from manipulating ads or awards systems. Additionally, biometrics can also help prevent hackers targeting financial information or credentials for account takeovers. With these potential risks, implementing biometrics is a very promising solution in order to protect both gaming platforms as well as their customers.
Gambling Companies Regularly Struggle With Fraud
A recent study conducted by CasExe with over 50 gambling companies found that 94% are regularly struggling to deal with fraud. The survey ran from June-July 2017 and included big industry names like Ladbrokes Australia.
A great deal of online casino business owners are quite concerned regarding the phenomenon of bonus hunting. This is the activity of taking full advantage of incentives that are designed in order to attract new players to a site so that the most profit can be gained from all the promotions available. This type of fraudulent activity was indicated by 85% of the gambling operators.
Owing to its rapid growth in popularity, fraudsters and cyber criminals are also targeting the online gaming and gambling sector with increasing aggression. Gaming companies are under mounting attacks from fraudsters who are using automated bots – as well as scripts – in order to test the validity of credentials which are acquired from the dark web.
Authentication Is Crucial For Gambling Providers
Authentication for gambling providers is quite essential as casino players expect that their funds will be protected because if these are not, and the casino’s bank accounts are hacked they will be opened up to massive liability. So, providers need to make sure that they have firewalls in place to protect their players’ login details.
Another solution is to employ strong authentication methods, for instance, multi-factor authentication. This can assist providers with complying with FIDO standards. Yet another solution is using the player’s biometric data to help them log in to the system. This helps the user as they don’t have to remember their password – all that they need to do is to put their thumbprint onto their device’s screen.
A technique that tech leader Google’s email program Gmail uses very well is a combination of techniques to secure their users’ accounts. For instance, when people login they’ll be asked to input their email address and password. If this is accepted they’ll be texted a code to input into the next screen. And, as a final layer of protection, they’ll send an email to your backup email address asking you to confirm that you’ve accessed your account.
It’s become so easy for hackers to steal a person’s information online and the online gambling industry is no exception. Thus it is very necessary to make sure that your passwords are very secure.