Strong gaming verification methods are now more important than ever with the growth of virtual currencies, purchases within games, and online communities.
The online gaming sector is growing 10% annually in Europe, according to market research. By 2022, it is anticipated that this sector will generate gross gambling revenues of about 29.3 billion euros. The goal of the following paper is to improve the gaming experience for players around the world by examining the significance of gaming verification, its advantages, and current trends in the industry.
Here’s how instant gaming verification functions in practice:
Facial Recognition: The player is asked to take a selfie or film a quick video in order to verify that the person opening the account is the rightful owner of the identification document. The verification method compares the player’s face to the image on their identification paper using facial recognition techniques.
Player Registration: When a player registers for an account on a gaming platform, they give that platform their contact details, including name, birthdate, and address. A scanned copy or photo of the player’s identification document, such as a passport or driver’s license is also uploaded.
Document Authentication: Using sophisticated algorithms, the gaming platform’s verification system rapidly examines and validates the submitted identification document. It examines the document for security features, compares it to known templates, and searches for any indications of manipulation or fabrication.
Data Verification: The verification system checks the information that the player has provided against reliable data sources, such as government records or credit bureaus, in addition to document authentication and facial recognition. It examines the player’s personal information for reliability and precision.
Real-time verification: The quick verification procedure usually just takes a few seconds. The player gets immediate feedback about the progress of their verification after finishing.
What difficulties does the internet gaming business face?
Over one billion people are thought to use online gambling sites globally, and the online gaming market has been expanding quickly over the years. According to statistics, the amount spent by online gamers in the past year alone was over $21.1 billion, and this figure is expected to rise.
On the other hand, we understand why cyber fraudsters and money launderers have made it a point to know about it. Using stolen identities or fraudulent identification documents, fraudsters try to carry out their criminal activity by opening new accounts. Their intention is to withdraw money from their clients’ accounts via these accounts before withdrawing it elsewhere.
Instant gaming verification: Streamlining Onboarding and Ensuring Security
Instant gaming verification advantages include:
Smooth Onboarding: Instant gaming verification removes the need for human review and drawn-out approval procedures, allowing gamers to begin gaming immediately.
Enhancement of User Experience: Instant verification provides a frictionless user experience, reducing the inconvenience of supplying significant paperwork and waiting for human verification.
Enhanced Security: The risk of fraud and unauthorized access is greatly reduced by the use of cutting-edge technologies and identity verification techniques.
Regulation Compliance: By instantly confirming players’ identities and ages, gaming platforms can make sure that rules like anti-money laundering (AML) and age limitations are followed.
Identity Verification to Fight Online Gaming Fraud
Gaming fraud verification!
The online gaming business is one of the most recent to be subject to compliance with regulations, and unchecked money laundering and fraud can have significant negative economic effects. The expansion of the market is being driven by the rise in Internet usage and the accessibility of online casino gaming platforms. Due to the wide range of clients and the significant volume of cross-border transactions, the worldwide reach has made financial crime and fraud easier to commit.
Fortnite: Online Gaming Verification with KYC
In order to make sure that players are who they say they are, Fortnite may also introduce identity verification procedures. In order to do this, the player’s identification may be verified against external databases or through the use of tech-based identity verification for online gaming methods like biometric authentication or face recognition. Fortnite implements a verification process that includes KYC procedures.
Cybercrime Prevention: Use of Gaming AML KYC
Gaming AML KYC requirements aid in cybercrime prevention. Gaming platforms can prevent illegal access, account takeovers, and the use of fraudulently obtained credit card data for purchases within the game by confirming the identity of users.