With a range of risks continuing to threaten the security of online payment processes, iNTERGAMINGi talks to some of those helping keep players and operators safe.
Technology and regulatory changes are among many major challenges facing payment systems in online gambling in 2013. And those two factors are critically important to an industry that continues to wage a war against fraud.
In an industry where the end user can take money out of the exercise, there will always be risks, especially as very often the individual withdrawing the money cannot be identified. That also entices those who would launder money, of course. As Adi Cahana, product manager of risk management at SafeCharge, recently pointed out: “The main challenge is that risk management systems face a variety of options for deposit and withdrawal, which can reveal the connection between a deposit and a withdrawal transaction and hence expose the system to risk.” Cahana points to the increased use of pre-paid credit cards or debit cards as making it harder for fraud prevention systems to track the flow of money from deposit to withdrawal. It also limits cross-platform fraud when mobiles and desktop computers enter the frame.
On the regulatory side, there has been a marked increase in the amount of government involvement on money laundering, so that those processing money are obliged to get much closer to the identity of the end user. They have to authenticate players’ identities and the validity of transactions, and new technologies are forced into play to cut down on human resources and provide real-time authentication.
This article can be read in full in the December issue of iNTERGAMINGi.
