The gambling experts have recently claimed that fraudulent activity is on the rise, which is basically being mainly driven by the surge increase in the online gambling sites traffic. One of these experts by the name of Ron Mendelson, and also the director of corporate service consultancy firm and International business that is basically based in Costa-Rica explained that there are two types of payment in these fraudulent activities in the online gambling sites.
These two kinds of payment fraud include the identity theft and the friendly fraud. Ron Mendelson also claimed that AI is typically speeding up the verification process, detecting the patterns of behavior that are usually considered to be suspicious, and weeding out the criminal before they are able to detriment the business of the online gambling sites.
AI is currently being used by the online gambling sites for the purpose of customer service and dealing with concerns and complaint that the gamblers and the player might have concerning the services that are being offered by the online gambling sites. One of the online gambling sites that has been noted to implement this AI in their services is that of the famous and most SBOBET Terpecaya
Perhaps one of the biggest headache of the operators of the online gambling sites and the players and gambler who indulge in the gambling activities that are being offered by the online gambling platforms is got to be dealing with fraud.
Any business enterprise that operated in an online platform and with money is most certainly required to be very cautious for these fraudulent activities and put in place measures that are very much capable of being used to detect and also curb these fraudulent activities. After all, it is indeed a billion-dollar industry with hundreds and thousands of customers
Complaints that were reported as a result of these fraudulent activities totaled to an estimate of 117 million US dollars in losses during the first half of the year of 2020. This was all according to an analysis that was basically done by the Federal Trade Commission ( FTC ). The overall losses that was accounted for back in the year 2019 was totaling to 134 million dollars for the entire year, this was also as a result of the fraudulent activities.
Thankfully, AI is coming to the rescue to detect and also prevent these fraudulent activities. This time, as a result of the artificial intelligence, operators of these online gambling institutions are very much able to speed up the verification process, detect patterns of suspicious behavior, and also be able to weed out criminals before they are able to detriment the online gambling business.
Fraud in iGaming
There are main modes of payment fraud that are typically being used in online gambling and they include friendly fraud and identity theft. The friendly fraud mode of payment usually cost the operator of these online gambling sites a fortune. This is also the main mode of payment fraud that is used by these fraudsters