ID Verification – Avoiding Identity Theft in the Gaming Industry

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The gaming industry has flourished massively in the past decade, and after the normalization of the internet, the gaming industry has taken big initiatives toward the online gaming experience. Almost 65% of adults in the US tend to play online games when enjoying their leisure time. This innovation greatly increases the demand for online ID verification of the players to avoid any kind of online scam with other players and game owners. Verified identity not only provides gamers with peace of mind but also shields them from phishing attacks in the future, which happens almost every time the industry fails to combat identity fraud.

The Significance and Authenticity of Identity Verification Service

Keeping things straight and clear, an online identity authentication check helps the game owner validate the players by all means when signing up for the first time. To make sure that the players are the ones who they claim to be, the all-time best biometrics identity verification systems are brought into action to verify the authenticity. These solutions help in smoothly identifying the players’ credibility. The protocols of the identity verification system are streamlined and always followed by the gaming companies to experience the best results. 

Applied Practicalities and ID Verification while signing up 

ID cards, driver’s licenses, passports, and residence permits are the most common ID papers that gamers are required to upload. Third-party sources are deployed to authenticate and further verify the information given by the customer. Companies periodically verify IP addresses or phone numbers to maintain the greatest level of security. The majority of synthetic identity frauds are likely to be committed through phishing. When it comes to internet gaming, very few individuals are concerned about their safety. This necessitates easy and approachable identity verification. When signing up for a game, a consumer is never permitted to progress without first confirming their identity. In fact, the more legitimate documents buyers offer, the faster their identification will be validated.

Variety of Gaming Frauds and Scams 

Identity Theft

In order to register, players use false identification. Phishers pretend to be authorized users by providing false information during online address verification.

Multiplayer Credentials

Online gaming tournaments allow players to compete against one another, but one user has the ability to monopolize the game by setting up two or more fictitious accounts and player profiles. 

Showcasing Fake Gaming Accounts 

Players tend to prepare clever and false identities or even real ones that have been stolen at some point in the past, in order to take advantage of promotional activities inside the game or to get some freebies for more than allowed. 

Fabrication with Bots on the Ground 

Players exploit the system by employing gaming bots to accelerate game progress or harvest resources.

ā€¨Hacked Accounts

The risk for gamers of losing their accounts is always high due to the increasing phishing in the gaming industry.

Prevent Sharp Practices and Scams 

If a new gaming account, offer, or payment appears to be fraudulent, an AI-powered approach to identity verification can be used. With the potential to prevent new account fraud, reduce promotional misuse, and eliminate chargebacks, game producers will be able to install an ID verification system that develops identity trust for every contact. Every type of scam is unique in its own way, much like the game on your platform. It is advantageous to be able to create and train AI-integrated modules to detect possibly fraudulent behaviour and flag it for evaluation.

Online Gaming Industry – Security Parameters 

The online gaming industry is facing a bunch of problems due to increasing money laundering and terrorist financing worldwide. Gaming has now become a smarter way of committing money laundering yet escaping fast if caught. As a result, this industry is now regulated, and new plans and integrations are in practice to safeguard the gaming industry within the boundaries of ID verification. 

Wrapping it up

It is in players’ best interests to limit the risk of financial crime in the digital gaming industry. Criminal action not only damages a company’s reputation but also affects its yearly revenue. However, modern techniques and technologies like artificial intelligence partnered with identity verification and AML monitoring systems have the ability to detect identity theft, money laundering, and other illegal behavior. Online gaming organizations may evaluate user use patterns, detect cheats, and avoid bad actors from forging fake identities for their unfair purposes by using an AI-integrated identity verification service. The only way to eliminate the risk of cheating is to use identity verification technologies.