GeoComply, a geolocation compliance security firm, has shifted its focus to help gaming and entertainment companies with its authenticated data to prevent fraud.
With advanced location and protection technology, GeoComply has provided firms such as William Hill and DraftKings with an automated product that helps avoid disruption by locating precise zones of users through their data.
Now GeoComply is looking to safeguard the gaming business with a heavier focus on fraud prevention. By using its geolocation data, GeoComply can locate issues that relate to anti-money laundering (AML) and fraud.
GeoComplys Managing Director, Lindsay Slader, spoke at last year’s SBC Summit North America about GeoComply’s venture into the fraud space and how the firm aims to assist operators with their software.
“Traditionally GeoComply worked in the gaming space providing geolocation solutions to the industry,” said Slader.
“Through that we collect a lot of user device information that really lends itself amazingly to preventing fraud; identifying fraud. What we are looking at right now is how we can work with our partners, operators, platform providers to leverage all of that powerful data and create new solutions and help them fight fraud on a larger scale.”
Slader also discussed how the industry is evolving and knowing when the right time is to focus on fraud prevention.
“The industry has been focused on building itself, expanding to new jurisdictions,” commented Slader.
“Now we’re at the point where people are trying to optimise their product to a larger scale as the industry expands. Along with that is ultimately the cost. Fraud is real for operators and we’re hoping to help them find new solutions to make their systems work better.”
Slader touched on the ever-growing gaming and online gambling market within the US. The MD noted that with a burgeoning industry in a country as populated as America, more attention and focus will be placed upon fraud, AML and compliance checks to make sure consumers are safe and secure.