Ricardo Destaole, CSO and responsible for the iGaming vertical at the startup Exato Digital, was at the SBC Summit Barcelona to present first-hand to his partners and main players in the sector the news that the company is building on KYC and Money Laundering Prevention.
Currently, one of the biggest challenges for betting platforms is to prevent fraud and ensure that bettors can register and have fun on their website.
Furthermore, a new challenge is how to comply with the regulations currently being approved by the government, as well as how to combat or avoid recent cases of allegations of match-fixing involving football players.
In the midst of so many challenges, Ricardo Destaole brings valuable insights into risk mitigation that can help bets to be compliant and avoid financial losses.
Check out the full interview with Ricardo Destaole, from Exato Digital:
iGaming Brazil: Ricardo, what have platforms done to mitigate risks and become compliant with PL 3626/23?
Ricardo Destaole: During the last 3 years, we have been able to follow the growth of the main national players in the betting market, in addition to the emergence of numerous platforms.
Risk mitigation has been a point of extreme attention, causing these companies to look for solutions that help control risks during different bettor transactions (registrations, payments, receipts).
iGaming Brazil: What are the main risks that operators have encountered and shared with Exato Digital?
Ricardo Destaole: The sports betting market generates huge numbers, and because of this high volume of users, the risk of fraud is also huge.
The main problems detected are: misuse of identity by bettors, fraudulent registrations, registrations associated with money laundering, and registrations of bettors linked to manipulation of results.
iGaming Brazil: Regarding manipulation of results, what can operators do?
Ricardo Destaole: There is already a movement in the market to create solutions that help in some way to avoid this risk.
I am very proud to be with Exato Digital acting as a pioneer on this front, where technology and data intelligence can be the main allies of operators in this matter.
Furthermore, investigation by government bodies is essential, such as the CPI into the manipulation of Football, to identify and punish those responsible.
iGaming Brazil: What has Exato Digital been doing in this scenario?
Ricardo Destaole: In recent months we have dedicated ourselves to carrying out a survey with the help of data intelligence to help identify people related to sport.
Starting from the concept of PEP (Politically Exposed Person), we created the term PREAPE, which is People Restricted from Sports Betting.
From this database that includes more than 1 million records, it is possible to map people and professionals related to sport to avoid manipulation of results. We have already made available a report that includes, in addition to PLD issues, this base of sports-related issues.
iGaming Brazil: How does this work in practice?
Ricardo Destaole: Our clients include verification following onboarding with an extremely quick consultation. We are talking about milliseconds, precisely so as not to impact the bettor’s experience.
Associated with this, a PLD consultation is carried out and a risk report is generated for that client, which can be decisive in mitigating fraud. These checks have exponentially reduced the risks and financial impact on operators.
iGaming Brazil: What does Exato Digital have prepared for 2024?
Ricardo Destaole: We are creating what we call a bet score, which, unlike the credit score that brings the financial health indicator, we will bring the bettor’s risk indicator according to their profile within the universe of online betting.
We are already working to create this indicator with the support of artificial intelligence and big data analytics, which are our specialty.
About Exato Digital
Exato Digital is a startup that offers a Know Your Customer solution to help reduce fraud and adhere to regulations.
The company has been specializing in the iGaming universe and is dedicated to creating solutions that help the market grow in a solid and healthy way.
Exato currently serves more than 70 clients directly related to the betting market and carries out more than 10 million checks per month, consolidating itself as one of the main players in the compliance and anti-fraud sector.