Jumio warns of Black Friday fraud attacks

Identity verification expert, Jumio has issued a warning to online gaming operators to prepare for a rise in fraud attacks between Black Friday and Cyber Monday.

The busy shopping weekend has become an annual tradition as thousands of retailers cut prices on products ahead of the Christmas rush, with millions spent during the period worldwide.

Jumio compared fraud patterns from 2014 to 2016 for online ID verifications across various industries for the period and found online gambling fraud has increased 67% since 2014.

Last year, fraud in the sector was 32% higher between Black Friday and Cyber Monday compared to the daily average for the year.

Anies Khan, head of gaming at Jumio, said: ‘’Annual fraud reports in the retail sector are commonplace after every Black Friday and Cyber Monday, but our data suggests that fraudsters are now seriously targeting the online gambling industry during this period.

“It is crucial for gaming operators to implement accurate identity verification safeguards to mitigate against this growing threat, especially during the new account opening process.”

Jumio will release further data analysing this year’s Black Friday to Cyber Monday period, which will be available next week.