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Online Casino Fraud Detection by Iovation

By: Adam Richards, Wednesday October 13th 2010
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It cannot be denied that there will be players who will sign up at online casinos to perpetuate fraud of some kind. This could be credit card charge back, maxing out stolen credit cards, hijacking customer accounts, bonus abuse or money laundering. In the case of online poker, player collusion is a major source of fraud. Online casinos take precautions to verify the identity of players when they sign up by asking for relevant documents. Online casinos also expel members who have tried to commit a fraud. There are hundreds of online casinos and the culprit finds it easy to sign up with some other online casino and repeat his mischief there.

This is where fraud prevention organizations step in and Iovation is one of the most reputed of these. In fact its byline is "The Power of Reputation". Iovation works with a host of online industries that include financial services, online retail, online communities and online gambling. For the last five years Iovation has been tying up with online gambling operators and software providers to keep "online casinos open for business while staying closed to fraudsters". Iovation credits its success to its different approach to fraud prevention. It says that most anti-fraud agencies focus on the player who signs up at the casino. The ReputationManager system that Iovation uses goes deeper and identifies the device used to connect to the online casino's servers, whether a personal computer or a laptop or a mobile handset. The device is then matched against a history database that till date contains records of over 390 million devices. With every new search the database is added to and is growing. The match reveals whether the device under test has had a history of trust abuse in the past. In this manner Iovation is able to identify criminals before they strike.

Though this is the major assistance the ReputationManager provides, it is only part of their services. It is possible for fraudsters to sign up using devices that have no history of fraud. Therefore Iovation has evolved investigative tools to catch crooks by spotting characteristics consistent with fraud. These include studying wagering patterns to check for mismatches, proxies and disabled components and to know when activity counts have been met or exceeded.

For online casinos Iovation recommends its most powerful solution ReputationManager 360. If an online casino is repeatedly subject to fraud it would lose credibility in the minds of the regular players. These players would correctly fear that their own information, accounts and transactions can be compromised. This would result in consequent loss of business. According to Iovation ReputationManager 360 is the only solution that uses the shared experience of global brands. Over 2,000 fraud professionals and 300 online brands contribute 50,000 details of fraud each day. Iovation estimates that there is almost 30% device crossover between industries and therefore this solution will best serve the needs of the online gaming industry. John Traill, Fraud Manager at WagerWorks agrees with this assessment. He says, "With iovation we can see associations between problematic accounts and devices. Before it was a hunch, now it is a process."

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