Canada
Sumsub Releases Transaction Monitoring Guide
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Sumsub, a global tech company that provides customizable KYC, KYB, and AML solutions for the whole user journey, published its Complete Guide to Transaction Monitoring to provide a detailed picture of transaction monitoring as an integral part of the verification system.
The guide was prepared by Sumsub’s compliance and anti-fraud team in partnership with Pismo, an all-in-one, cloud-native financial services platform covering all core banking and payment processing functionalities.
Transaction monitoring is crucial for companies providing financial services, as it helps them perform risk assessments and detect suspicious activities. This expert guide is intended to show businesses in the fintech, banking, insurance, gambling, and e-commerce sectors how to spot transaction fraud, bolster their defenses, ensure full compliance, and optimize user conversion rates at the same time.
Every industry benefits from transaction monitoring in different ways:
- A gambling or iGaming service can support responsible gaming by easily detecting if a customer is spending more money than declared in their income statement, and a service can curb arbitrage betting by detecting multi-accounters.
- Banks can automatically detect signs of suspicious activity, such as income drastically higher than in the source of funds statement.
- In e-commerce, purchases over AML thresholds and unusual spending patterns should automatically raise alarm bells and be prevented.
- For insurance companies, illegitimate claims and fraud patterns can be detected.
“Nowadays it’s getting harder for regulated businesses to survive and grow in conditions of economic recession: they need to keep pass rates high, attract new users and stay protected from fraud—all at the same time. The perfect tool to help businesses keep up with their ambitious plans and avoid scams on the way to growth is transaction monitoring. It is a new must in verification that should come together with KYC and other AML checks. By combining user, business and transaction verification in a single flow, you get a complete picture of user profiles and can intercept even the most sophisticated fraud attack vectors and patterns, and that provides extra insurance that fraud risks can be reduced,” Vyacheslav Zholudev, co-founder and CTO of Sumsub, said.
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BCLC
BCLC Reminds Public to be Cautious of Illegal Online Casino Scams
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BCLC has reminded the public to be cautious of a series of social media scams that imitate B.C. casinos and trick individuals into providing their financial details on illegitimate websites.
Highly deceptive, these scams share fraudulent posts and advertisements exploiting the logos, names, and exterior images of local B.C. casinos, and may claim to offer players exclusive bonuses and promotions if they register with their website or mobile application. BCLC warns that none of these sites are associated with casinos in B.C. or BCLC.
PlayNow.com is the only online gambling website permitted to operate in B.C. BCLC’s official apps are BCLC Lotto!, PlayNow Poker BC, and PlayNow BC Sportsbook. All BCLC-operated social media accounts, such as BCLC, PlayNow BC, PlayNow Sports, Lotto BC and Casinos BC, are verified with a checkmark.
While BCLC and its casino partners continue to work on having the posts removed, British Columbians should stay vigilant when it comes to these predatory and sophisticated scams.
To protect themselves, individuals are encouraged to:
• Be on alert when a website or app asks for personal or financial information. BCLC’s verified websites and apps will never ask for your social insurance number (SIN), banking information or credit card details online to claim a prize from a B.C. casino.
• Carefully check the URL and domain of the website to verify its legitimacy. Often, scammers will use a similar URL and domain to legitimate websites with a minor spelling difference.
• Always verify the company and its services are real before providing any personal information.
• Look out for other red flags, such as the suggestion of fees or taxes to be paid on a prize. There are no fees or taxes on prizes won in Canada.
If individuals feel unsure about an account, post or advertisement claiming to represent a B.C. casino, they can contact BCLC directly by calling the Customer Support Centre at 1-866-815-0222, or using the live chat resource on corporate.bclc.com or PlayNow.com.
The post BCLC Reminds Public to be Cautious of Illegal Online Casino Scams appeared first on Gaming and Gambling Industry in the Americas.
Betty
Wyzia Renews Canadian Partnership With Betty
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Wyzia, the pioneering Canadian online payment solutions provider for regulated markets, is celebrating the renewal of its highly successful ongoing partnership with Betty, Ontario’s premier online slots casino.
This partnership, which began in 2023, is key to Wyzia’s expansion across North America. It supports players of Betty, an online casino catering to female players whose business is supported by Wyzia’s innovative, secure, and robust payment management solutions.
Wyzia is at the forefront of Canada’s fintech landscape, pioneering seamless online payment solutions for regulated markets. Its innovative platform connects merchants directly to all Canadian financial institutions, simplifying transactions and empowering businesses with reliable, efficient financial tools.
“We’re thrilled to celebrate a year of working with Betty with the renewal of our agreement,” said Guy Fietz, Group CEO at Wyzia. “Our collaboration has not only expanded our reach but enhanced the payment experience for Betty’s growing community of players.
“We look forward to continuing this successful collaboration and driving further innovation in the online gaming industry.”
Betty is the only platform created specifically for Ontario slot players. In 2024, Betty has enjoyed unprecedented growth, with a tenfold increase in net revenue since January and over 1000% growth in active players across Ontario.
By fostering a fun, safe, and supportive environment, Betty has harnessed the power of the female gaming audience to create a unique online casino experience. Betty focuses on transparency, community-based play, and gamification of the traditional slot experience.
This player-focused model has allowed Betty to stand out from other services, resulting in phenomenal growth and the ability to retain female players at a rate three times higher than their male counterparts.
Additionally, Betty automatically processes 99% of withdrawals, so players quickly receive their funds, a crucial benefit for online slot players.
“Our partnership with Wyzia has been instrumental in providing our players with a seamless, fast, and secure payment experience,” said Chavdar Dimitrov, Founder and CEO at Betty. “We are excited about the growth we’ve achieved together and are committed to delivering even better services to our community in the future.”
The post Wyzia Renews Canadian Partnership With Betty appeared first on Gaming and Gambling Industry in the Americas.
Bragg Gaming Group
Bragg Gaming Enters into Online Casino Content Agreement with Canadian Operator Loto-Québec
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Bragg Gaming Group has announced that it has entered into an online casino content agreement with Canadian operator Loto-Québec, the only 100% legal and local casino site in the province of Québec. The agreement marks the expansion of Bragg into its second Canadian province, following Bragg’s prior entry into Ontario in March 2022.
Pursuant to the agreement, Loto-Québec will benefit from access to exclusive content, including titles from Bragg’s in-house proprietary content development studios, a roster which includes Atomic Slot Lab and Indigo Magic, through Bragg Gaming’s Remote Games Server (RGS) technology, delivered via the Bragg HUB platform.
In addition, Loto-Québec players will also be able to access on lotoquebec.com titles from multiple content partners under the Powered By Bragg program, including King Show Games, Bluberi, Incredible Technologies and Sega Sammy Creation.
All content delivered on the Bragg HUB comes with the company’s Fuze promotional tools as standard which offer player engagement features on games such as free rounds, jackpots, tournaments, and quests.
The agreement with Loto-Québec’s online casino supports Bragg Gaming’s strategic goals by accelerating the growth of utilization of Bragg’s exclusive and proprietary content, and the diversification of revenue through expansion into North American markets.
Garrick Morris, Senior Vice President, Commercial, US and Canada at Bragg Gaming Group said: “It’s fantastic to see Bragg’s content expand into our second Canadian province. Loto-Québec is a strategic partner, and we are excited to see our proprietary games as well as exclusive content from our partners live and available to Loto-Québec players. We look forward to developing our relationship as a key supplier to Loto-Québec as we continue the roll-out with regular new game releases planned.
“We’ve enjoyed strong growth in North America over the past 12 months and I am pleased to further support this momentum with this successful launch in Québec. I would like to thank the Loto-Québec and Bragg teams for making this happen.”
François Hardy, Senior Director of Product and Innovation at Loto-Québec, said: “At Loto-Québec, we are always looking for new and exciting ways to entertain our players. Bragg perfectly aligns with this vision, enabling us to provide a refreshing and dynamic experience to our players.”
The post Bragg Gaming Enters into Online Casino Content Agreement with Canadian Operator Loto-Québec appeared first on Gaming and Gambling Industry in the Americas.
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