by Ryan D. Jaeger
The improvement of technology around the world, means that frauds and cheats
are becoming more successful in their operations, leading to a higher demand for
increased security measures online.
According to the UK payments association, APACS, credit card fraud in the
United Kingdom cost the gambling industry over £21 million over a 12 month
period.
Online gambling operators are recognizing the need to improve their security
measures even further, and are taking all the right steps to do so.
"As security technologies improve, so do the fraudsters," said the Managing
Director of Ladbrokes' online arm, Ladbrokes Remote, John O'Reilly. "They are
getting sharper and bloody sharper. That is what we see for sure."
"Combating fraud is a big part of what we do - not a very visible part, but
it's a huge risk for all of us," he said.
It is estimated that fraud costs a business around 2 to 3% of its overall
revenues.
"It's a significant level," admitted O'Reilly. "We've got armies of people
combating fraud in real time, stopping people getting in and cheating our
sites."
Cheating can take place in a number of ways, including chip dumping, money
laundering, card tumbling and more.
Recently, Ladbrokes was involved in a security breach when it was revealed
that someone had managed to get hold of the personal details of literally
millions of its players, offering to sell them to the UK publication, The Mail.
One conflict facing gambling operators is the risk of losing top players
through too-tough security measures.
As such, operators are struggling to find the perfect balance between good
enough security, without chasing players away.
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