Industry Awards
iGaming Fraud Increased 64% YoY: Sumsub Shares Alarming Data in 2024 iGaming Fraud Report
Sumsub, a global full-cycle verification platform, released its 2024 iGaming Fraud Report, with updated identity fraud numbers and predictions for the industry. According to findings, the most popular fraud schemes in the iGaming industry are bonus abuse, affiliate fraud, illegitimate chargebacks, money laundering and account takeovers.
Key findings of Sumsub’s 2024 iGaming Fraud Report include:
- Between 2022 and 2024, fraud in the online gaming sector increased 64% year-over-year on average.
- By country, Bangladesh leads the fraud charts in Q1 2024 with a whopping 8.5% of all applicants being fraudsters, followed by Indonesia (8%), South Korea (6.6%), Pakistan (6.1%), and Bosnia and Herzegovina (6%).
- Selfie mismatch is the most frequent type of fraud attack in gaming, representing 73% of all detected fraud in Q1 2024.
- AI-powered deepfake scams are advancing at unprecedented rates, having grown 10x between 2022 and 2023.
- Money muling remains the most widespread fraud scheme.
“Due to the growth of sophisticated scams and increase in the overall fraud rates in the iGaming industry, simple KYC checks are no longer a guarantee of players’ genuine personas and platforms’ robust protection. To ensure companies best avoid fraud scenarios and remain safe and compliant, they must deploy user identity verification at the onboarding stage in addition to betting pattern analysis and ongoing transaction monitoring,” Kris Galloway, Head of iGaming Product at Sumsub, said.
According to Statista, in 2024, the revenue of the online gambling market is expected to exceed $100B. By 2029, the number of users is predicted to reach 281.3M globally. Between 2022 and 2023, fraud losses for mobile casinos and betting platforms totaled $1.2B. With regulations becoming stricter, leading to millions in fines paid by iGaming platforms every year and license revocations, it is obvious that businesses that choose to settle for minimal defenses will likely suffer heavy financial and reputational losses.
“A combined approach is the best bet against advanced iGaming fraud. Every step of the user lifecycle must be protected—from initial sign-ups to the withdrawal stage. That involves KYC, behavioral intelligence, device fingerprinting, database checks, and more. Sumsub combines all the necessary checks within its full-cycle verification platform tailored to the needs of gaming platforms and operators, ensuring advanced fraud protection and a smooth player journey,” Andrew Novoselsky, CPO at Sumsub, said.
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Anti-Fraud Innovation of the Year
Frogo Wins “Anti-Fraud Innovation of the Year” at SiGMA Central Europe 2025
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Frogo has won the “Anti-Fraud Innovation of the Year” award at the SiGMA Central Europe B2B Awards 2025. The award recognizes companies that are redefining how businesses approach risk, security and operational transparency.
Unlike traditional systems focused on blocking individual cases of fraud, Frogo’s approach is built around strategic prevention and real-time decision support. The platform helps businesses to understand their data, predict potential risks and act before losses occur. It combines artificial intelligence, behavioral analytics, graph-based forensics and – most importantly – deep industry expertise in a single environment that enables teams to identify fraud patterns and adapt instantly to changing traffic or threat dynamics.
“We’ve always seen fraud prevention as more than a reactive process,” said Volodymyr Todurov, CEO at Frogo. “Our goal is to help companies think strategically about risk, to build systems that recognize patterns, not just red flags. That’s what makes prevention sustainable.”
The SiGMA jury highlighted Frogo’s ability to balance automation with flexibility, allowing companies across sectors such as iGaming, fintech and e-commerce to maintain both security and user trust. Businesses using Frogo can automate complex fraud checks, reduce operational noise and focus on making informed, timely decisions rather than manual investigations.
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Amusnet
Amusnet Shortlisted in Four Categories at the Golden Spades Awards 2025
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Amusnet has been shortlisted in four categories at the Golden Spades Awards 2025, organised by the Association of Organisers of Gambling Games & Activities in Bulgaria (SOHIDB). The company is recognised for its achievements as the Most Successful Bulgarian Company Abroad, for its innovation with the Slot Machine of the Year, for the Debut of the Year for Gaming Machines and as the Online Supplier of the Year.
This recognition highlights Amusnet’s continuous commitment to excellence, and global growth across the online, online live casino and land-based gaming sectors. The Golden Spades Awards celebrate the companies and individuals driving the future of the gaming industry in Bulgaria and beyond, honoring outstanding performance and leadership in technology, product development and business development.
Irina Rusimova, Chief Commercial Officer at Amusnet, said: “It’s a great honor to see Amusnet recognized across multiple categories at this year’s Golden Spades Awards. These nominations reflect the dedication, creativity, and passion of our entire team, as well as our strong partnerships both in Bulgaria and worldwide. We are proud to represent Bulgarian innovation on the global stage and to continue setting high standards for entertainment and technology.”
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BC.GAME
BC.GAME Wins “Best Crypto Casino” at SiGMA Central Europe Awards 2025
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Global crypto entertainment brand BC.GAME has been named “Best Crypto Casino 2025” at the SiGMA Central Europe B2C Awards, held this year in Rome. The result has been published via SiGMA’s official channels and industry media, with BC.GAME listed among the winners in the cryptocasino operator category.
As part of the SiGMA Central Europe 2025 event in early November, the B2C Awards focused on operators that have shown notable performance in online entertainment and sports betting over the past year. The “Best CryptoCasino 2025” category is specifically dedicated to platforms built around crypto assets as a core feature of their offering.
According to award-related communications and public review sources, BC.GAME’s recognition is linked to its integration of crypto payments, multi-vertical product line-up and ongoing development in Web3-oriented use cases. Several third-party reviews have highlighted BC.GAME as a representative example of a platform that supports multiple cryptocurrencies, combines casino and sports content, and designs features with on-chain users in mind.
BC.GAME noted that the award serves as a form of interim feedback on the platform’s long-term commitment to the crypto segment. The company plans to continue improving the user experience around crypto payments, cross-device product performance and content operations, while expanding sports and esports-related partnerships in markets where such activities are permitted by local regulation.
As a crypto-native operator, BC.GAME incorporates mechanisms such as provably fair verification into its product design and combines these with a native token and promotional structures to deliver an integrated casino and sports experience for crypto community users. With continued nominations and awards within the SiGMA framework and other international programmes, BC.GAME is increasingly regarded as a long-term player in the crypto entertainment vertical.
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