New fraud system introduced by softswiss

SoftSwiss Anti-Fraud System Saves Online Casinos 10 Million Dollars

SoftSwiss’ anti-fraud online system has saved its customers, operators of online casinos and sports betting websites, around 10 million dollars in losses in 2021 due to its security checks. On Tuesday, the company announced this in a press release.

The service would allow customers to conduct bonus abuse checks, block duplicate player accounts, and investigate possible collusion. In addition, the system could identify suspicious gaming patterns and detect abuse of bonus offers.

Head in the B2C department at SoftSwiss, Vitali Matsukevich, said:

“We are thrilled that our team managed to act as problem solvers and save such a large amount of money for our customers. Every day we carefully investigate all suspicious activity on our platform and fight fraud using many different tools and methods”.

Matsukevich also explains that SoftSwiss continues to work on new projects with the Data Science and Platform Development teams. It is expected to increase efficiency and security in the coming year.

Ensuring Compliance with Regulatory Requirements

Another important task of the system, he said, is to ensure compliance with clients’ terms and conditions and data protection. In addition, the program also protects against breaches of regulatory requirements and licensing regulations.

SoftSwiss illustrated the tasks of the program with an example. A player had been identified who had used a specific game pattern. During the first check, it was determined that the player had been abusing the game.

Tracking Down the Player

The team then checked the player’s account and requested proof of the source of funds:

The player uploaded all the documents the next day, leading us to believe that they were genuine. However, upon detailed document verification, it was found that the player’s language in the eWallet and his native language were different.

This had strengthened the suspicion that the player was a fraudster. The apprehension of fraud was then confirmed when the player was asked to verify his identity utilizing a Skype call.

In this way, it turned out that it was not the owner of an account but one of the numerous fraudsters that the company could track down.