Online gaming platforms have been completely transformed in this last decade. With the advent of technology and new console of gamings like PS5, the gaming platforms are not coming slowly either. Now the online gaming platforms have developed to the point that these games contain the whole world and enable the players to communicate through voice calls. The gaming accounts with good scoring can be sold on platforms like amazon. Even some of these gaming platforms charge to provide a better version of the game. However, this also brings in the fraudsters to exploit these platforms. An identity check must be implemented on these gaming platforms to ensure the safety of the players.
The identity verification process can be used to verify the identity of the player. Identity verification can be done through face verification, document verification, and two-factor authentication. Face verification enables the gaming platforms to verify the player’s identity through their face by using AI-powered facial recognition technology. The government-issued identity document can be verified through document verification. The account of the customer can be protected through two-factor authentication that generates a code to the player’s phone number or email address.
Listed below are the five reasons to verify the player’s identity in an online game:
? Identity theft
Since the accounts on these platforms have become important, the identity of the account owner has become the target of the fraudsters. The stolen identity can assist the fraudsters to open up an account on other people’s credit card information and they are charged for the payment while the fraudsters are the ones to get access to the account. Sometimes they steal an identity to get their hands on other people’s accounts so they can sell it online. Minors trying to manipulate the age gate can also access these platforms through their parent’s or elder sibling’s identity cards. This is another reason to ensure the player’s identity.
? Minor protection
The major priority of the gaming industry is to take precautions for minor exposure. Since these gaming platforms have become so advanced, the games have become advance as well and are unfit for minors. The games contain violent content as well as inappropriately explicit content and this is why it is extremely unfit for minors. People from around the world are connected to these gaming platforms and can communicate with each other. Minors can be exposed to adult offenders through such platforms. The player verification is a necessity to ensure that no harm is being done to any underage children and they not being exposed to the content that can prove to be harmful to their personalities.
? Money laundering
Global regulatory bodies dealing with financial crimes is worried about the surge in money laundering activities. However, gaming platforms have become a new target for money launderers ever since the money got involved with such platforms. Online games include gambling which is the major investment for launderers to cleanse their illegally obtained funds. Since the online gaming safety of platforms does not authenticate the source of the money being deposited, they use it to integrate the illegal funds with the legal financial system. In order to trace such bad actors taking advantage of the gaming industry, it is immensely important to implement player verification checks to verify the identity.
? Compliance Penalties
AML/KYC regulations require business entities to verify their clients. The gaming industry falls under such business entities, especially the online gaming platforms, and they must perform KYC verification and AML checks to fight financial crimes. If the platforms do not comply with such regulations, they have to face the consequences. Global regulators and concerned authorities can fine them millions of dollars as a punishment for not taking the compliances seriously. Online player’s identity verification helps these businesses remain compliant.
? Charge Back
Charge Back is a process where the customers can request their money back from the banks if their identities have been stolen and the transactions were not made by them. When this is done, the bank reverses the transactions it is the gaming platform that is left to face the loss. However, if they have carried out proper player verification, they can claim the chargeback request to be a fraud with evidence.
