SOFTSWISS: Anti-Fraud Secures €6M in H1 2024

SOFTSWISS: Anti-Fraud Secures €6M in H1 2024

@SOFTSWISS, a renowned global #TechnologyCompany with over 15 years of experience in the #iGaming sector, has released a significant report detailing the achievements of its #AntiFraud team within its Managed Services for the first half of 2024. The report highlights how the team’s efforts have helped clients secure approximately 6 million euros, demonstrating a one-third reduction in the amount at risk compared to the previous year.

Reduction in Fraudulent Activities

The substantial decrease in fraudulent activities underscores the effectiveness of the advanced tools and methodologies employed by the SOFTSWISS Anti-Fraud team. These tools have been pivotal in mitigating fraud attempts, such as bypassing restrictions and breaching terms, thus creating a more secure operating environment for operators. The team’s proactive approach and commitment to security have been crucial in safeguarding the interests of SOFTSWISS clients.

Handling of Fraud and Responsible Gambling Notifications

In the first half of 2024, the Anti-Fraud team handled approximately 54,000 tasks. These responsibilities encompassed operator and verification inquiries, alongside notifications concerning fraud and responsible gambling issues. Interestingly, there was an 8.5% decrease in the number of these requests compared to the first half of 2023, indicating a positive trend towards reduced fraudulent activities.

Insights from the Anti-Fraud Team Lead

Ilya Nesterov, the Anti-Fraud Team Lead, provided valuable insights into the nature of the fraud cases they encounter. “The most common types of fraud our team deals with are bonus abuse, identity theft, and document forgery, which account for almost 90% of all fraud cases. We are pleased to see the number of operators’ requests and fraud notifications slightly decreased this year. This trend also testifies to a more responsible attitude on the part of players,” Nesterov stated.

Increase in Player Complaints

Despite the decrease in fraud notifications, the report noted a 12.4% year-on-year increase in player complaints submitted to regulators or at industry forums, totaling 118 for the first six months of 2024. However, SOFTSWISS’s extensive expertise in analyzing these cases enabled operators to resolve issues effectively, thereby preserving their reputations and saving nearly 250,000 euros.

Implementation of the Risk Scoring Tool

A significant development within the Anti-Fraud team has been the implementation of an innovative Risk Scoring Tool. This tool is capable of identifying potential issues in real time, allowing for proactive measures to be taken and ensuring a safer gaming experience. The Risk Scoring Tool represents SOFTSWISS’s commitment to embracing new technologies and enhancing their responsible gaming practices.

Recognition in Responsible Gaming

SOFTSWISS’s dedication to responsible gaming has not gone unnoticed. The company was honored in the Responsible Gaming category at the SiGMA Africa Awards, highlighting its industry leadership and innovative approaches. This accolade underscores the effectiveness of their comprehensive approach to maintaining a secure and responsible gaming environment.

Invitation to iGB Live!

For those interested in learning more about SOFTSWISS’s innovative solutions and best responsible gambling practices, the company invites partners to book a meeting at their stand, 12-F30, at the iGB Live! event on July 17-18. This event offers an excellent opportunity for industry professionals to gain insights and engage with the SOFTSWISS team.

Company Overview

SOFTSWISS, with its headquarters in multiple locations including Malta, Poland, and Georgia, is a pioneering technology company in the iGaming industry. The company possesses multiple gaming licenses and provides an extensive range of software solutions for managing iGaming projects. Their product portfolio is extensive, featuring the Online Casino Platform, the Game Aggregator with over 20,000 casino games, the Affilka affiliate platform, the Sportsbook software, and the Jackpot Aggregator.

In 2013, SOFTSWISS made a significant impact on the industry by introducing the world’s first Bitcoin-optimized online casino solution. This innovation set a new standard in the industry and demonstrated SOFTSWISS’s commitment to staying at the forefront of technological advancements. Today, the company boasts a team of over 2,000 experts dedicated to providing cutting-edge solutions to the iGaming sector.

Conclusion

The achievements of the SOFTSWISS Anti-Fraud team in the first half of 2024 underscore the company’s dedication to security and responsible gaming. By implementing advanced tools and methodologies, SOFTSWISS continues to lead the way in fraud prevention, ensuring a safer and more secure environment for its clients. The recognition received at the SiGMA Africa Awards further cements SOFTSWISS’s position as a leader in responsible gaming practices.

FAQs:

What is the primary achievement of SOFTSWISS in H1 2024?
The primary achievement is the prevention of approximately 6 million euros in fraud.

How did SOFTSWISS reduce the amount at risk?
Through advanced tools and methodologies that effectively mitigate fraud attempts.

What types of fraud are most common according to SOFTSWISS?
Bonus abuse, identity theft, and document forgery.

How many tasks did the Anti-Fraud team handle in H1 2024?
Around 54,000 tasks.

What trend did SOFTSWISS observe in operator requests and fraud notifications?
There was an 8.5% decrease in requests and notifications compared to H1 2023.

What is the purpose of the Risk Scoring Tool implemented by SOFTSWISS?
To identify potential issues in real time and take proactive measures for a safer gaming experience.

How did the number of player complaints change in H1 2024?
Player complaints increased by 12.4% year-on-year.

What recognition did SOFTSWISS receive for its responsible gaming practices?
Recognition in the Responsible Gaming category at the SiGMA Africa Awards.

Where can partners learn more about SOFTSWISS’s solutions and practices?
At the iGB Live! event on July 17-18, stand 12-F30.

What innovative solution did SOFTSWISS introduce in 2013?
The world’s first Bitcoin-optimized online casino solution.

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