Lately, numerous incidents of fraud related to online gaming have come to the fore. One particular incident that comes to mind is that of Facebook allegedly allowing fraudulent activities on games it hosts, for e.g. Fortnite which has been attacked by cybercriminals multiple times.
Crimes as severe as identity theft, privacy breach are committed through these games. In particular, such online games are attacked because of the digital monetary transactions that take place on them. Various types of fraudulent activities such as account takeovers, card testing, friendly fraud, etc. are done.
On the other hand, other popular payment methods like PayPal are extremely secure and reliable. Only a few reputed online casinos provide payment through such secure gateways. So you must be careful about which online casino you choose to play on.
PayPal is one among the most trusted payment gateways which allows you to carry out transactions more privately. It can be used at various reputed online casinos such as 888Casno, Spin Palace Casino, JackpotCity Casino, etc. Paying through Bitcoin is another safe option as it relies on blockchain technology for enhanced security.
Accounting Takeovers
Many of us have a hard time remembering passwords and therefore we set up very basic passwords that are easy to remember. Such users are more susceptible to cyber attacks because of their easy passwords.
When their accounts are hacked users may notice that their in-game credit is being used without their knowledge for purchases they never intended to make. This results in many chargeback cases being filed with the online casino. If the cyber attack can’t be traced then the real user does not even get any relief.
Fortnite recently came up with two-factor authentication to deal with the rising number of cyber attacks, but users have the option of using single-factor authentication still. Many users would end up choosing convenience over security, so making two-factor authentication will go a long way in mitigating the cyber attacks.
Friendly Fraud
You must be aware of this sensational news of a pet parrot using Amazon’s Alexa to order things online had surfaced when the owner was not at home. A comparable situation in terms of online gaming is when children use the in-game credit to make purchases without the knowledge of their parents. This occurrence can be termed as friendly fraud.
Parents who are the actual users of such account then have to file chargeback claims because they did not intend to make those purchases.
Such claims are very hard to settle mainly because the merchant can’t verify whether the claim is credible or not. So the most practical measure that could be taken to curtail chargeback claims in such a situation is for the merchant to take action in preventing such friendly fraud. It has been found that such friendly frauds will be repeated at least three times. Thus one thing that could be possibly done is that the merchants could closely analyze the root cause of these chargeback claims and come up with strategies to avoid such mishaps in the future.
