Online age verification process and tools often seem laughably easy to circumvent – after all, anyone can lie hiding behind a computer. The truth, however, is that that a simple age check is enormously effective in combatting online gaming fraud.
Complying with the latest governmental rules and regulations is often a major challenge for online bookmakers and gambling websites. Gaming websites need to find a narrow middle ground in order to balance their corporate interests with governmental regulations. Too much security during the sign-up phase and customers are likely to look elsewhere for their needs. Too little security, however, and businesses can fall foul of the law, or worse, be targeted by fraudsters.
New requirements for Online Gaming in the US, as a part of the Customer Identification Program (CIP) and the new Financial Crimes Enforcement Network (FinCEN) rules coming into force this year in May, use age verification as part of a triple-lock system.
A fully functional, robust age verification system can help providers establish a fast-growing user base, driving a rise in number of accounts. A scrutinized registration process can ensure that only players who are above the legal age are registered. Hence, problematic legal issues involving minors can be avoided at the root, saving time, money and rapport. Furthermore, demonstrations of proper compliance and due diligence can enormously boost a company’s reputation in the eyes of both the public and regulators.
Much as in the world of cryptocurrencies, manifesting a strong approach towards security and proper conduct enormously improves the end-user experience for companies. Furthermore, a well-managed and policed approach to security – of which proper age verification policy form an inexpensive and robust part, provide part of a protocol that allows a simple approach to change management. Identity verification platforms like IDMERIT provide a robust age verification module is perhaps the easiest security module to implement, is an additional bonus. This also removes the need to include them in regular security reviews, as they should be considered almost an automatic feature of any gaming site’s security protocols.
Coupled to the obvious benefits brought by lower incidence of fraud, age verification allows for easier identification checks – especially when bundled with other identity information. The commonplace nature of age verification checks, an almost every day encounter for online users, is also considered non-obtrusive, ultimately increasing customer loyalty.
