The Rise in Online Gaming
The online gaming industry has always been able to successfully catch the attention of people. At present, this industry is serving as one of the major sources of entertainment for people. With the increase in the popularity of the online gaming industry, fraudsters and scammers have become more opportunistic in executing their evil goals. No doubt the arena of online gaming is humongous and so is the opportunity for online fraudsters to attack unsuspecting people through online gaming.
The increase in the rise of new paying users in the online gaming industry in India has shown tremendous growth. The proportion of New Paying Users (NPUs) has increased from 40% in 2020 to 50% in 2021. According to a report by EY FICCI, the number of paying players grew by 17% from 80 million in 2020 to 95 million in 2021.
Online Gamers Falling Prey to Fraudsters
Fraudsters and scammers target online gamers with the motto of stealing their personal and financial information. They do it by creating fake websites and gaming servers that trick the gamer into entering their login details or credit card information.
There have been scenarios where the obsession for virtual gaming is at such a peak that the fraudsters create fake game accounts just to cheat other players. Also, legitimate game accounts are sometimes hacked to steal virtual currency or items.
A report by Kaspersky Lab states that online gamers are increasingly becoming victims of fraud. It found a 50% increase in hacked gaming accounts in 2017 compared to 2016.
Different Types of Fraud in Online Gaming
- Credit Card Fraud: Unauthorized purchases made using stolen credit card information.
- Identity Theft: Stealing personal details to create fake accounts and make fraudulent transactions.
- Phishing: Fraudsters trick users via deceptive emails or messages to obtain sensitive information.
- Hacking: Unauthorized access to gaming accounts or devices to steal virtual currency or personal data.
How to Stay Safe While Gaming Online
- Use strong, unique passwords for gaming accounts.
- Avoid clicking on suspicious links in emails or messages.
- Enable two-factor authentication (2FA) where possible.
- Regularly update antivirus software and gaming apps.
- Avoid using public Wi-Fi networks for online gaming.
- Verify the legitimacy of the game provider before making purchases.
Our Say
The online gaming industry is continuously growing and so is the risk of getting exploited by fraudsters and scammers. It is mandatory for all online gamers to take preventive steps like regularly changing passwords, avoiding public Wi-Fi networks, checking the legitimacy of the game provider, and installing updated anti-virus software for all devices, to avoid the risk of getting trapped. These simple steps can make the experience smooth & enjoyable while slight negligence can lead to serious consequences.
Providing a secure platform to players is essential for the digital gaming industry. Criminal activities damage the business’s reputation and negatively impact annual revenue. At this point, artificial intelligence comes to the rescue by providing various identity verification and AML screening systems. These solutions help examine gamer behavior and detect possible scams and fake accounts used for illegal purposes.
Zoop.One offers AI-driven API products that provide high-precision verification and real-time fraud detection in less than a second.
