iDenfy, a Lithuania-based RegTech company specialising in AI-powered ID verification and fraud prevention solutions, partnered with 7bet, a pioneering Lithuanian iGaming operator offering sports betting and iGaming services.
iDenfy’s Know Your Customer (KYC) software will help 7bet’s gamers access the platform quicker while ensuring legal compliance and minimising fraudulent accounts, such as those who abuse the bonus system or want to overcome bans using multi-accounting.
Other techniques to bypass measures
Much of this fraud is due to duplicate accounts, commonly known as multi-accounting
In 2024, the iGaming industry witnessed a significant surge in fraudulent activities, with overall fraud increasing by 64% compared to previous years. Much of this fraud is due to duplicate accounts, commonly known as multi-accounting. According to Domantas Ciulde, the CEO of iDenfy, e-commerce marketplaces and iGaming establishments are the pioneering industries for multiple account fraud. This is part of the convenient nature of such services: they can access games or shop multiple items easily online.
However, D. Ciulde stresses that from a business perspective, this results in major financial losses, especially since fraud rings use bots and other techniques to bypass weak authentication measures.
7bet faced challenges
In regions like Western and Central Asia, sign-up and welcome bonuses are usually prevalent, which caused a decline rate in new signups due to fraudsters attempting to exploit these promotions through multiple accounts.
iDenfy’s newest partner, 7bet, offers a dynamic platform for sports betting and online gaming, focusing on providing a secure and engaging environment for users. Operating in a high-risk sector, 7bet faced challenges managing suspicious registrations, including users who are attempting to bypass KYC checks with duplicate accounts, fraudulent documentation, or automated bots.
Integrating iDenfy’s innovative solutions
7bet benefits from an innovative system that is capable of recognising, verifying and extracting data
To detect multiple accounts, blocklisted users, or simply players who are abusing the promo system more efficiently, the iGaming business understood they needed a fully automated solution. As a result, by integrating iDenfy’s innovative solutions, 7bet has implemented a highly scalable and automated player onboarding process that helps to fully reduce the reliance on manual reviews and boost verification accuracy.
By integrating iDenfy’s identity verification software, 7bet benefits from an innovative system that is capable of recognising, verifying and extracting data from over 3,000 identity documents across 200 countries and territories. This technology supports global compliance while providing 24/7 expert oversight to minimise fraud and system errors.
Advanced biometric algorithms
Additionally, advanced biometric algorithms, including facial recognition and 3D liveness detection, ensure that only legitimate users are granted access. The system prevents attempts to use fake images, 3D masks, or other forgeries in the verification process, offering bulletproof authentication and security.
In addition to that, with iDenfy's passive liveness checks, the company now ensures a frictionless onboarding experience, reducing duplicate account rates as the innovation evaluates the validity of a user’s selfie without requiring them to perform additional actions, such as turning their head. This dual approach, coupled with document verification, not only saves time for the user but also obscures security processes, deterring potential fraudsters from accessing exploitable information.
iDenfy KYC procedure
According to iDenfy, this also works as a way to spot underage users who are trying to bypass KYC checks
According to iDenfy, this also works as a way to spot underage users who are trying to bypass KYC checks. “Our solution ensures that only age-appropriate, legitimate players access their beloved games, which is the key to maintaining transparent and fair play in this age-restricted sector,” said Domantas Ciulde, the CEO of iDenfy.
Justinas Bakšys, the COO of 7bet, highlighted, "Working with iDenfy has revolutionised our KYC procedure, allowing us to onboard consumers easily while guaranteeing regulatory compliance."
Integrity of iGaming operations
Bakšys added: "Specifically, the passive liveness feature has lowered onboarding friction, giving our users a seamless and safe experience while safeguarding the platform against fraud.”
Domantas Ciulde, the CEO of iDenfy, added: “We’re thrilled to work with 7bet and bring up-to-date ID verification technology to their platform. Our goal is to deliver secure and user-friendly solutions that build trust while safeguarding the integrity of iGaming operations.”
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