Report by AU10TIX finds 250% increase in online gaming fraud
Identity verification provider AU10TIX has released its Q1 2024 Global Identity Fraud Report with online gaming at the forefront of its research.
AU10TIX has found that the global online gaming market, which generates $26 billion in revenue annually, saw instances of fraud in Q1 2024 increase by more than 250% compared to the same period last year. The results were led by payment fraud, which accounted for 62% of all fraud attacks during the quarter due to its limited regulation. By comparison, payment fraud made up approximately 39% of overall identity fraud cases in Q1 2023.
“Organized criminal groups are increasingly using AI to commit large-scale, coordinated identity fraud,” said AU10TIX CEO Dan Yerushalmi. “Our advanced machine learning technology, multi-layered defense system, and consortium of 60+ tier-1 companies enable us to detect and prevent this sophisticated fraud, which most identify verification platforms miss. We are committed to protecting our customers and leading ..