How to detect fraud in iGaming? Volodymyr Todurov told which approaches are used at PIN-UP GLOBAL, so read on for more insights into anti-fraud technology.

PIN-UP GLOBAL Solutions for Risk Prevention by Volodymyr Todurov

What makes a good risk-management and anti-fraud system? Volodymyr Todurov, chief analytics officer at PIN-UP GLOBAL, shared some insights in his recent interview – https://focusgn.com/behind-the-scenes-of-anti-fraud-processes-at-pin-up-tech-traditional-tools-and-innovative-technologies. He commented on new advanced technologies and classic approaches and shared some insights on how his team creates competitive solutions for iGaming businesses with the ultimate predictive power.

Key DDDM Principles & Antifraud Tools According to Volodymyr Todurov

There are a lot of things that make the iGaming industry stand out. However, the most distinguishing feature is its ever-changing nature. Moreover, the volume of data is huge. Users make billions of financial transactions monthly, and the operators need to monitor them all to ensure that fraudulent behavior isn’t actually taking place.

Volodymyr Todurov from PIN-UP notes that in such a context, a data-driven decision-making approach (DDDM) is nearly irreplaceable. Only DDDM solutions allow for processing huge volumes of information, reacting accordingly to trends and events, and identifying certain behavioral patterns.

As emphasized by Volodymyr Todurov, antifraud platforms can’t be good enough without using the good old “norm-anomaly” scheme. You need to decide what the norm is and then detect things that are significantly different from it. But again, iGaming is an ever-changing market. You need to adapt your solutions, in particular, your “norms” and “anomalies”. That’s why the approaches for different local markets and payment solutions should be constantly updated. That should go for your strategies for acquiring and retaining customers, too.

How Technology Shapes Anti-Fraud Solutions at PIN-UP.TECH & in the Market at Large

Volodymyr Todurov’s risk management approach doesn’t entirely focus on one type of tool. As he notes, the PIN-UP team uses some good old solutions, as well as AI and ML models.

The latter is very effective, but as the chief analytics officer notes, you can’t just automate everything. Human work and the deep expertise of experienced data analytics are still necessary. Moreover, it’s used to train ML and AI models and further monitoring of the effectiveness of the solutions used. They must be adapting while the market is changing, delivering up-to-date solutions that actually work. That’s how you can make the right decisions and avoid mistakes that will result in money losses. Moreover, specialists can save time they could spend on taking a closer look at alerts that have nothing to do with actual fraudulent behavior.

When Someone Wins Big: Volodymyr Todurov’s iGaming Antifraud Approach

Volodymyr Todurov’s gambling antifraud solutions are widely used to detect bonus abuse, fraudulent wins, and broken games. He notes that it’s crucial to balance the quality of customer experience, in particular, the time frame within which the lucky player gets their win, and the need to spot any fraudulent actions.

The process lasts too long when a fraud manager contacts the provider to ensure that a big win results from luck and not the suspicious actions taken. That’s why the team of PIN-UP.TECH uses the “games health-checker service”. It allows them to understand whether this was a “natural” event or not. If that were just a normal winning distribution, the customer would get their reward without delays. If it’s not, the system will spot the anomaly.

The same approach is used to detect any flaws and hacks in gaming software. The team of PIN-UP.TECH now has an opportunity to identify all the broken games almost immediately, but detecting bonus abuse or continued fraudulent gaming isn’t that simple for ML models.

They need to analyze client’s preferences at large and focus on how the customer bets with bonus money within a longer period of time. That’s how the ML model learns to see disbalance and report about it immediately. With the possibility of identifying fraudulent behavior, hacks, or broken software on the game ID level, the team could save over $500,000 — and that’s the amount of potential losses for a monthly period only.

Volodymyr Todurov on Betting Antifraud System

Volodymyr Todurov mentioned that PIN-UP.TECH has been using classic anti-fraud approaches, and the team was quite satisfied with the results, but they realized the necessity of speeding up the process of detecting fraud. Predictive models working in real-time were a game changer — they started to use a gradient boosting model that is constantly improving itself and is using a five-bet calculation scheme.

The 0.8% balance was an indicator that made the model alert the customer, and the model could detect nearly 80% of fraudulent clients. So, anti-fraud managers could address the issues immediately after a user engaged in fraudulent activity placed their first five bets, which is a great rate overall.

The principle is simple — you spot a suspicious account and double-check it at the right time. Still, Volodymyr Todurov notes that even with such an effective ML/AI system, they didn’t shift away from classic risk-management approaches. The team keeps using them, along with advanced cutting-edge technologies, to get the best results possible.

The industry will change, Volodymyr says. ML and AI models will be commonly used, but the main thing that all players in the global market should focus on is the accuracy of the results, and the high accuracy can be reached only when a model is trained properly and with the right data.

Still, this doesn’t mean that specialists will be able to delegate their work to ML and AI models. By contrast, they will need to make important choices, such as choosing the right tool for a specific task that would work perfectly in one context or another.

Volodymyr says experiments are the key to future growth. The team will keep trying new approaches and using new technologies to achieve ultimate optimization, improve the effectiveness of all processes, and boost the accuracy of anti-fraud predictions.

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Volodymyr Todurov from PIN-UP Global is the chief data analytics officer with over 8 years of experience in the field. He specializes in operating sportsbooks, creating gambling programs, affiliate marketing, and payment solutions. Volodymyr uses a data-driven decision-making approach, focusing on data analytics, financial modeling, and forecasting.