In an area where bullying, discrimination and even money laundering are rampant, isn’t it time for the video game industry to rectify the KYG (Know Your Gamer) problem?
It’s no exaggeration to say that most of us have played at least one video game. Today, more than 3 billion of his individuals around the world spend their free time playing video games, whether on consoles, computers or smartphones. It’s no surprise that the market value he is believed to exceed $300 billion.
The industry has come a long way since 1972 with the introduction of Pong, a table tennis-themed Atari video game. Gone are the days when players were queuing outside video game stores to purchase their favorite new releases. Today, Internet sales account for 83% of his video game sales.
Online gaming has also grown significantly as a result of the advent of super-fast internet and other technological advances that allow multiplayer gaming with up to 200 gamers in a single lobby. Today, large gaming communities can be found on digital media distribution systems provided by gaming companies such as Xbox Live, PlayStation Network (PSN), Steam, and Ubisoft Connect. A study by a tech company found that 84% of gamers believe playing video games helps them meet people with similar interests. The social component of video games has never been more important in an increasingly lonely society.
Why Gaming Platforms Rely on Community-Centric Experiences
Despite providing players with thrilling and satisfying adventures and the opportunity to interact with people from all over the world, the video game business has always been controversial. As with 80s horror movies, violent real-world events are often blamed on video games. Some online gaming platforms have been criticized for being toxic cesspools and not a good place for children to spend their free time. They have also been criticized for their addictive nature, which leads to children spending thousands of dollars on microtransactions, and the rise in incidents of online grooming, harassment, and racism.
Because of this, the community is putting increasing pressure on online gaming platforms to maintain a safe atmosphere for players. Failure to do so can have a negative impact on reputation, revenue, player interest, gaming experience, and the gaming community at large.
It is common to see an increase in toxic behavior as online groups grow in size. Bullying and verbal abuse are part of the gaming community, fueled by the anonymity that online gaming platforms provide.
For its third annual study in 2021, the Anti-Defamation League surveyed a sample of representative players in the United States on the incidence of toxic behavior. Adult Online reports that his gamer has been subjected to serious abuse, including physical threats, stalking, and persistent harassment. Additionally, 42% of women and 41% of African-American girlfriends said they have been harassed because of their race or gender.
But how can video game publishers ensure that players are treated with respect and free from bullying, harassment and cheating?
Current measures employed by gaming platforms, such as account freezes and bans, do not appear to be strong enough deterrents. may continue. How? One of the main reasons is that there are very few or no identity verification steps when registering for an online game his account.
Why KYC for online multiplayer games should be a priority
While KYC rules have been in place for online gambling for some time, there has been little regulation for online gaming businesses. Gaming platforms face a dilemma as a result of increasing pressure from activists, the general public, and the gaming community. Rigorous customer onboarding must be implemented to verify player identities and risk losing unwilling customers. their identity? If your reputation, business disruption, and gaming experience could be negatively impacted, can you afford not to? It should be your most urgent query.
Could regulators look to gaming platforms in the future and mandate that all players verify their identities? , prevent minors from accessing certain games or purchasing microtransactions online. These limits may be based on PEGI requirements. KYC checks can also be used to deter money laundering.
How Gamer ID Verification Eliminates Player Risk
According to a recent report by the European Commission’s Radicalization Awareness Network, Steam and PSN, among other platforms, may act as “hotbeds of radicalization”. In fact, as it becomes more difficult to launder money through financial service providers, criminal groups are looking for new ways to engage in illegal activities, such as planning vacation rentals.
With the growing popularity of microtransactions and the potential for money laundering, authorities may soon start requiring KYC standards in businesses.
Criminal groups are constantly looking for new ways to make money, with video game payment systems emerging as prime targets. Due to the lack of regulations regarding identity verification, the use of virtual currency for in-game purchases, whether redeemable or not, has proven to be a successful method of laundering money.
Research shows that Fortnite is frequently used for money laundering and card fraud. This is a form of credit card fraud where a stolen credit card is used to purchase a gift card or charge a prepaid card. Scammers obtain in-game currency with ill-gotten money and use virtual currency to purchase in-game items. Ultimately, they sell their products for “clean” money.
Transactions between individual accounts had to be halted after Valve revealed that “almost all” of Counter-Strike: Global Offensive’s microtransactions were being used to launder money. So the real question is not whether, but when, the authorities will consider the video game business.
How Digital KYC Overcomes Player Fatigue for Account Signup
From a gamer’s perspective, signing up and creating an account is often perceived as an annoyance that interferes with their enjoyment, but an automated ID verification solution seamlessly integrates into the player onboarding process without interfering with their gaming experience. can be included. On the business side, KYC not only helps gaming companies weed out toxic players who are wreaking havoc on their communities, but it also helps them understand their players better. Taking these steps now will give video game companies a competitive edge should AML restrictions be implemented.
The next step in creating a better and safer online gaming community should include KYC. Proper authentication using cutting-edge technology facilitates verification of gaming accounts, makes it easier and more accurate to identify bad players, and eradicates verbal abuse, cheating, bullying and fraud. It also helps gamers regain control of their accounts after a takeover by allowing them to quickly verify their identity and prove they are true owners.
Banks and financial services were often the first to implement digital identity verification solutions as regulated firms, but such technologies and procedures are common in other industries, such as online video games, skill games, and gambling businesses. But it has a wide range of use cases.
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*** This is IDcentral’s Security Bloggers Network syndicated blog created by Sumanth Kumar. Read the original post: https://www.idcentral.io/blog/know-your-gamer-identity-verification-gaming-industry-2023/
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