People are living under stress during this lockdown period and especially when they can’t go to the restaurants, movie theatres, parks and other public places in order to relax and enjoy. It’s been hard to find positivity in these difficult and stressful situations. We’ve been trying to make gradual progress with these strict decisions which were imposed to contain this virus and for our safety. Post COVID-19, everything has started moving online, right from spending time with loved ones, working from home, online yoga sessions, school lectures and likewise. At the same time, online gambling platforms are also seeing a spike with traffic flowing in. 

In order to keep up the spirit, people have shifted to online mode gambling as it’s more convenient and practical these days. The impact of coronavirus had a huge impact on businesses and everything started taking an online shape. People find that more convenient because all they need is an internet connection, credit card and a smartphone or laptop to begin betting.

Online gambling involves heavy financial transactions that tend to happen on a large scale. Also, the entry fee as well as the minimum stakes of these online games are quite high. Not just that, the absence of face-to-face interaction makes these platforms vulnerable to identity thefts, money laundering and financial frauds,  which is a big concern to both the users as well the founders of these gaming platforms.

Here’s why online gambling platforms needs to opt for an identity verification solution,

• Bad guys can falsely acquire credit cards and play the games using someone else’s information while damaging their credit scores and hard earned money. These scammers know their ways and can easily escape from the repercussions of huge losses while creating serious troubles for the victim and the business.

• Fraudsters can create multiple fake accounts using stolen identity documents to gamble online and make tons of benjamins. For instance, if a user creates 5 accounts and intentionally loses from the other four accounts, which automatically leaves the fifth one to win. This is termed as multiple account fraud and business can suffer from this if they don’t pay enough attention.

• Without proper verification and authentication, children under the age of 18 can easily get into the system, which can not only cause unnecessary trouble to them and their family, but it can also lead to legal issues with the business/gambling platform. 

Are you having second thoughts on continuing or starting an online gambling business ? Don’t worry at all, AZYO got you covered with everything and it’s been constantly evolving by thinking one step ahead of the bad guys. Plus, it helps to meet AML (Anti Money Laundering) Compliance

This phenomenal solution is developed with an amazing fusion of Optical Character Recognition, Artificial Intelligence, Machine Learning, Blockchain & Facial Biometrics to verify anyone, anywhere and anytime.

Not only the users will be verified in real-time using facial biometrics, their identity documents and personal information will be analyzed. Moreover, during the identity verification process, the users will be recorded live along with their identity documents. Plus, they’ll be shown a string of digits on the screen which they have to read out in order to finish a legitimacy test, and finally they would have to undergo a liveness detection test to prove their genuinity. Having these security layers makes the overall verification process really strict. Only the legit users would be able to follow these particular checks and the bad guys will be kicked out immediately.