How AML Gaming Checks Influence Player Identity Verification



Business intelligence trends and big data analytics show the proliferation of a wide range of audiences into online gaming. Many of the online gaming platforms on the internet incorporate features for microtransactions, which serve as the base for all financial transactions. This way these entities are not considered a financial organization or a banking company and are not regulated by obligations published under the Bank Secrecy Act (BSA). Nonetheless, there is a constant increase in security challenges for the e-gaming industry as more and more financial transactions are making their way into the relevant market.

= The current scenario of the e-gaming industry = The e-gaming industry is a potential target of financial fraud and is used as a medium for money laundering, which is a huge financial crime. Money laundering activities take place by employing in-game currencies and by digital goods by online scammers in dubious ways. Inclination in online gaming has paved the way for cybercriminals to perform financial fraud in the complex landscape of online gaming.

The significant gap in gaming frameworks are well understood by fraudsters and are substantially exploited. This poses a threat to the gaming industry in regulating precautionary measures and mitigating financial crime risks.

Apart from this, illegitimate practices of making money are always being exercised by money launderers on online gaming platforms to acquire real money, and in good numbers. To reduce the constant propagation of criminal activities via. e-gaming platforms, AML gaming checks should be implemented immediately.

= Gamer Identity Verification = Online gamer safety and fraud prevention is the utmost priority of any e-gaming platform. Gaming checks incorporated during customer onboarding, checkouts, and other financial transactions can provide great value in preventing money laundering attempts. KYC and AML gaming checks need to be executed during the customer onboarding process in real-time which helps in building greater customer loyalty.

In order to perform gaming checks, player identity needs to be verified. For the verification process to take place, valid identity documents need to be provided which provide a credible source for player enrollment. Verifying user identity over online gaming platforms also ensures KYC compliance standards.

The information extracted from the player documents is also matched against publicized lists including, a wide range of sanctioned lists, Politically Exposed Persons (PEPs), criminal and money launderers’ databases, watchlists issued by organizations who work for the prevention of financial fraud like the FATF.

A compliance program can be built by gaming platforms utilizing the information acquired from user data validation against criminal record lists. These gaming checks can not only help related entities prevent monetary deficits but also comply with international AML obligations.

As far as customer onboarding is concerned, a one-time check can prevent illegal and synthetic identities to associate with the platform, but this does not ensure complete protection against money laundering. During checkouts and in-between activities, the presence of a  biometric or facial verification method is quite essential to ensure a safe and secure flow of operations at all times.

= The Future of e-gaming = The e-gaming industry will advance in the years ahead and open new doors for better financial opportunities. By utilizing a comprehensive identity verification solution for gaming checks, the industry can significantly cut on non-compliance penalties and online fraud incidents. AI-powered gaming check systems will be an emerging technology in the near future to alleviate money laundering activities in the gaming industry. This will ensure the availability of a foolproof platform for gamers to communicate and also create better chances of acquiring income for the specific platform.