Today, more than ever, identifying suspicious behavior in real-time is one of the most critical actions iGaming operators can take.
That is, financial transactions in this sector happen at high speed, and quickly detecting any unusual activity is essential to keeping the platform safe and compliant.
Ignoring this need can open the door to fraud, money laundering and even the loss of operating licenses.
The importance of real-time transaction monitoring
Online gambling platforms, like any financial sector, need to be prepared to detect and prevent irregular activity. While the iGaming environment is largely safe and reliable, it also requires constant vigilance to ensure that transactions are carried out transparently and in compliance with regulations.
From split deposits to unexpected movements between players, every transaction needs to be monitored carefully.
Among the main reasons why real-time monitoring is essential, the following stand out:
- Financial fraud prevention: A robust monitoring system can prevent malicious players from using platforms to launder money or carry out fraudulent transactions, minimizing the risk of financial losses.
- Regulatory Compliance: The iGaming industry is increasingly regulated, with strict anti-money laundering (AML) rules in place. Identifying and blocking suspicious transactions in real-time is an effective way to ensure your platform is always compliant.
How to detect suspicious behavior in real time?
Using automated tools to monitor financial transactions is essential to identify suspicious behavior in real time. With the right technology, it is possible to detect suspicious patterns and behavior as soon as they occur, without the need for manual intervention.
However, not every tool is capable of guaranteeing full compliance and efficiency. Therefore, it is necessary to choose one that provides services such as:
- Automatic detection of fractional and mismatched deposits: This is one of the most effective methods for identifying money laundering attempts. Players may make multiple small deposits to mask the true value of their bets. With the right monitoring technology, these transactions can be immediately identified and flagged.
- Example: If a player makes frequent deposits, but the amount is below the minimum transaction threshold, this could be an indication of money laundering attempts. An intelligent system can automatically flag these transactions for further review.
- Behavioral analysis: Player behavior is also an important clue. If a player starts placing bets erratically or shows signs of unusual activity compared to their history, it’s possible that something is out of the ordinary. Monitoring gambling patterns can help identify behaviors that deviate from the usual betting profile, which is a strong indication of fraud.
The advantages and benefits of an intelligent AML monitoring platform
A good monitoring system needs to go beyond simply identifying irregular behavior. In other words, personalized risk analysis is one of the biggest differentiators of an efficient platform.
By adapting monitoring tools to specific business needs, it is possible to create more accurate parameters to assess players’ financial behavior.
For example, the AML tool must take into account a bettor’s actual financial capacity, which includes not only deposits but also their presumed income, based on public sources and additional information, such as financial history and legal proceedings.
The aim is to ensure that the system is able to detect any incompatibility between a user’s profile and their transactions, generating automatic alerts when there are signs of risk.
Furthermore, solid integration with compliance systems is more than essential. For a betting platform to be fully compliant with the legislation, it must be able to generate reports and send information easily and quickly, such as reports to COAF (Council for the Control of Financial Activities).
The system must allow the compliance team to have access to complete data on each transaction, including details such as the history of deposits, withdrawals and even bets made, so that they can be analyzed in accordance with legal requirements.
It is also important to note that a well-designed AML platform should allow for the customization of alert rules, adjusting the parameters for each type of transaction.
Through this, it is possible to monitor fractional movements, identify deposits made through different banks and detect financial deviations, such as withdrawals made without previous movements, and of course, avoid false positives.
When a player exceeds the deposit limit compatible with their presumed income, the system should automatically trigger an alert, making the process much more agile and efficient.
To top it off, the platform must ensure the centralization of information in the system, which facilitates risk analysis, providing a complete view of the user’s journey, including all alerts, transactions and past checks.
Click here and learn about the only automated AML tool for iGaming in Brazil that guarantees total monitoring efficiency, capable of generating automatic reports for COAF quickly, without complications and ensuring the customization of all rules. Count on a base of 22 million bettors to accurately identify atypical behaviors!
