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.
The post iGaming Fraud Increased 64% YoY: Sumsub Shares Alarming Data in 2024 iGaming Fraud Report appeared first on European Gaming Industry News.
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Amusnet has announced that it has won two prestigious awards at BEGE Awards 2025: Online Game of the Year for Live Bulgarian Roulette and Slot Machine of the Year for the Type S 55J premium slot cabinet.
This year’s ceremony highlighted the impactful products and achievements in the gaming sector, and Amusnet’s standout wins reflect the strength of both its live casino portfolio and its land-based offering.
Live Bulgarian Roulette took home Online Game of the Year Award, recognied for its authentic experience, seamless streaming and the unique touch of Bulgarian identity that resonates strongly with players at home and abroad. Its combination of real-time interaction and premium execution continues to position it as a favourite among operators and audiences.
“For us, it is a special recognition. This product reflects the spirit of our Live Casino studio – authenticity, attention to detail, and a deep understanding of what players value. The award is a testament to the team’s dedication to delivering a reliable, engaging, and truly memorable live experience,” said Marin Dimitrov, Head of Live Casino.
The Slot Machine of the Year award for the Type S J55 highlights Amusnet’s ongoing development of its premium slot cabinet series, first launched in 2024 and now featured in casinos across Europe. This latest model stands out for its J-Curved 55-inch 4K main monitor, sleek design and exceptional gameplay, powered by Amusebox and the next-generation Jackpot Cards Plus feature.
Borislav Marinov, Head of Business Development, Land-Based commented: “The Slot Machine of the Year award for the Type S 55J is an important recognition for our land-based journey. This cabinet represents our vision for combining premium design, strong hardware performance, and engaging content in one seamless experience. This award encourages us to continue expanding and refining our land-based portfolio.”
The post Amusnet Wins Two Prestigious Awards at BEGE Awards 2025 appeared first on European Gaming Industry News.
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CT Interactive has announced that it has won the Online Provider of the Year Award at BEGE Awards 2025. This recognition highlights the company’s ongoing commitment to quality, innovation and excellence in the online gaming sector.
“Winning the Online Provider of the Year award is a tremendous honor and a testament to the dedication our team demonstrates every day. This achievement reflects our continuous efforts to develop advanced solutions, create premium content, and deliver wining products for our partners. We are extremely proud of this recognition and will continue pushing boundaries to help shape the future of the industry,” said Martin Ivanov, Chief Operating Officer at CT Interactive.
The post CT Interactive Wins Online Provider of the Year Award at BEGE Awards 2025 appeared first on European Gaming Industry News.
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Amusnet has announced that it has received two major awards – Online Provider of the Year and Best Debut in the Land-Based Sector – at the Golden Spades Awards 2025.
These recognitions highlight Amusnet’s strong performance in its core online vertical, as well as the positive reception of its first steps in the land-based market. The Golden Spades Awards are an industry event that highlights notable achievements and contributions across the gaming sector in Bulgaria and beyond.
Irina Rusimova, CCO of Amusnet, said: “These two awards are truly meaningful for us. Online Provider of the Year acknowledges our long-term commitment to building a strong online portfolio, delivering quality, and maintaining trusted partnerships in a highly competitive segment. The Best Debut in the Land-Based Sector award is equally inspiring, as this is a new strategic direction for us and shows that we are moving in the right direction. Both distinctions reflect the unity of our teams and the dedication behind everything we create.”
Receiving these two important awards reinforces the company’s ongoing commitment to excellence across all verticals.
The post Amusnet Celebrates Double Victory at the Golden Spades Awards 2025 appeared first on European Gaming Industry News.
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