Leading fraud and risk solutions provider GeoComply has released its Ontario Anniversary Risk Report to celebrate the first year of regulated igaming and online sports betting in Ontario.
As the leading provider of geolocation and anti-fraud services to Ontario’s licensed igaming and online sports betting operators, GeoComply’s data provides compelling evidence that Ontario’s regulated market is attracting attention from around the world.
The report highlights: 19.9m login attempts worldwide; over 219,000 log-in attempts from devices associated with fraud; and GeoComply has detected 1,045 fraud rings affecting multiple operators.
GeoComply's director of risk services, Danny DiRienzo, commented: “Online fraud is not uniquely a sports betting or igaming problem. Recent data shows that cybercrimes were up 50 per cent in 2022 across all forms of e-commerce.
"However, our industry’s high standards of compliance put us in a strong position to combat it. Because every bettor must verify their location, we have the data to stop fraud before it gets a foothold.”
The report highlights the success of the regulated market in protecting consumers from rogue operators and fraudsters while promoting responsible gambling.
