SOFTSWISS' anti-fraud team helps operators safeguard $14.2M in 2023

iGaming tech supplier SOFTSWISS has announced that the anti-fraud team within its SOFTSWISS Managed Services solution helped secure over €13 million ($14.2 million) for its clients in 2023.

According to a press release, in 2023, the Anti-Fraud team "efficiently handled over 100,000 tasks, demonstrating a remarkable 62% increase in its year-on-year output" encompassing diverse issues ranging from operator requests and player verifications to reports of suspicious activities.

Predominantly, instances of fraud detected by the SOFTSWISS Anti-Fraud team were related to bonus abuse, with a smaller percentage associated with money laundering. The remaining cases involved chargeback incidents, abuse of payment systems, and various other forms of fraudulent activities.

Ilya Nesterov, Anti-Fraud Team Lead, commented: "In addition to this, the team has successfully addressed over 200 player complaints submitted to regulators or industry forums. Drawing upon our vast expertise, we meticulously analyze each challenging case, offering operators thoughtful consultations on how to settle issues before they escalate." 

"Through the efficient resolution of the named disputes and complaints submitted by players, we were able to aid SOFTSWISS clients in saving an additional 350,000 euros. This underscores our dedication to delivering exceptional service and ensuring the success of our clients in the dynamic landscape of the iGaming industry," Nesterov added.

The company stated that in its commitment to Responsible Gambling, SOFTSWISS is crafting "an advanced automated tool to diligently monitor players for suspicious behaviors and evaluate corresponding risk levels."

This system utilizes a comprehensive range of available metrics and indicators "to enhance accuracy and effectiveness in identifying potential risks," the business detailed.

Integral to the SOFTSWISS Managed Services, the Anti-Fraud Support plays a crucial role in the solution. Furthermore, according to the business, more than 200 casino brands have already embraced the Managed Services solution, "establishing themselves as dedicated clients of SOFTSWISS."

"Delivering essential services that include First Line Support, VIP Player Retention and Reactivation, and Content Management, SOFTSWISS Managed Services function as a seamless bridge linking operators with their players. This seamless integration optimizes casino operations, ensuring a frictionless gaming experience for all involved," the company concluded.