The gaming industry has seen rising numbers in recent years. This increase has caused vulnerability towards internet frauds and scams as well. To cater to such a situation, online age verification processes need to be conducted to eliminate such hazards from the gaming market. As anyone can fake to be someone else behind their computers, age verification tools can prove to be helpful in monitoring and detecting scammers and fraudsters in this regard.
The Gaming Industry is Rising but at What Cost…
The spread of the pandemic in recent times has played a major role in the gaming world. People were isolated and were seen to be more addicted to their smartphones, playing games while connecting with strangers online. This extensive use of phones is prompting the young ones towards playing games which they might not have proper knowledge about like engaging in gambling activities. With this increase in the number of gamers, newer types of frauds have entered into the market which can scam people easily, especially children.
Challenges of Age Verification in the Gaming Sector
Security compliances applied to games can hinder the efforts of internet criminals in reaching out to gamers. But it presents its own set of flaws and benefits, as too much security and going through long processes can eventually lead the users to lose interest and move elsewhere and too little security can endanger the gaming experience leading them to be a victim of theft or fraud. Therefore, an accurate balance should be made by gaming operators to handle the increasing profits as well as manage the security concerns of users.
One of the factors which can prove to be prolific is restricting the gamers with age verification solutions. This fully advanced registration process can ensure that players who are of a legalized age can be enrolled into such games which require age checks.
Online Gambling to be Restricted with Age Verification Solutions
Online gambling has been evolving in the gaming environment and has reached higher levels of popularity due to which gamers can get affected to some extent. According to Zion Market Research, online gambling will surge to the USD 94.4 Billion mark by the year 2024 in the online market. Moreover, there are countries that have legalized gambling and betting and earned a lot of profits from it yet it is a major concern in regard to online age verification.
Methods of Age Verification Making Ways Easy and Time-saving
In the past, age verification was an expensive tool to be used which could destroy the gamer’s experience. However, as technology advancements, new methods and ways are devised to solve this problem with the introduction of automated generated
biometrics which tracks the identity and verifies age for the access of gaming accounts and log-in to gaming services. Another benefit that this procedure is providing is saving uptime, making online age verification much easier and hassle-free.
Know Your Customer (abbreviated as KYC) is a mechanism that checks for the true identity of the customers to prevent any kind of fraud. While Know Your Customer Customer (also known as KYCC) goes a step forward and checks for the customer’s source of funds, whether they are legitimate and with whom they are conducting business proceedings which could be very effective in the gaming world. This process will also protect teenagers by getting rid of those doubtful business dealings which can lead to money laundering in the future.
Wrapping it Up
The state of being anonymous can endanger the gaming environment for the young ones. Creating an account from a fake ID and dodging the manual age verification by adding the wrong date of birth can easily be done. For this purpose, age-verified identities in gaming are of significant nature in order to protect the young ones from illegal activities. One of the conventional ways which are rapidly being used by gaming developers is checkboxes in which users are asked to check the box if they are above the legal age. Yet this method also has drawbacks which lead to faking them, proving it not be effective enough. KYC presents a better age verification solution plan with detecting the true identity of players, protecting them from player fraud, and minimizing the business loss which could both be beneficial for the game developers as well as the players. Hence, age verification solutions can provide a better user gaming experience and can generate better and secure opportunities to be introduced into the market which can produce great revenues.