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New report today reveals a staggering 85% increase in online fraud with over a fifth of all online traffic now an attack

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  • In the UK: gaming, online streaming and social media sites, travel and retail/ecommerce companies are the worst hit by fraudsters

  • Experts also find that the metaverse is already fast becoming a fertile breeding ground for cybercrime and newly defined, ‘Master Fraudsters’

A new report released today, The 2022 State of Fraud and Account Security, is warning UK commerce that it faces its most challenging year ever. Experts from the Arkose Labs Network, an online fraud deterrence platform, analyzed over 150 billion transaction requests across 254 countries and territories in 2021 over 12 months to discover that there has been an 85% increase in login attacks and fake consumer account creation at businesses.  Alongside this, it identified that a quarter (one in four) of new online accounts created were fake. A further 21% of all traffic was confirmed as a fraudulent cyber attack. 

“From the earliest days of online information to the rapid evolution of today’s metaverses, the internet has come a long way. However, this latest data shows that it is more under attack than ever before,” said Arkose Labs Founder and CEO Kevin Gosschalk. 

He continued: “Your digital identity is a currency for fraudsters and wherever there is online commerce, cybercriminals are quick to identify vulnerabilities.”

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The new report focused on a number of key themes:

The Worst Attacked Sectors in the UK

The latest research took a deep dive into UK business specifically to understand which sectors were the most attacked by online criminals. The ongoing popularity of online gaming puts it top of the list for fraudsters with almost half (46%) of all the attacks in the UK, as seen by Arkose Labs. Digital media companies (social networks and online streaming platforms) are also high value targets and represent a third of all attacks, seeing an 88% increase since 2020. Across all sectors including ecommerce/retail, travel, gaming, financial services, one in every four new online accounts created were fake throughout 2021. 

Metaverse companies are more likely to be targeted by “Master Fraudsters”

The rise of virtual worlds has created new attack opportunities for bad actors. Early insights from the Arkose Labs Network show scams, microtransaction abuse, and unfair play are the top threats in a metaverse world. These companies experienced 80 percent more bot attacks and 40 percent more human attacks than other businesses. “Master Fraudsters” attack their targets by scripting together multiple tools with intense persistence. They combine bots and human fraud farms, and invest large amounts of capital, creating virulent attacks. Top attack patterns Master Frauders use to disrupt fair commerce include microtransaction fraud, spam and scams.

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Crypto-fraud sees Asia overtake Russia as the world leading attacking region

In prior years, Russian attacks were more common, but in 2021, attackers from Asia took the top spot, with 40 percent of all attacks coming from this region. One in every two Asian attacks originated from China. Leveraging an ecosystem of tools and low-cost resources, two-thirds of Chinese attacks targeted registration, primarily driven by abusing free trials at cloud computing platforms for crypto mining. 

Credential Stuffing attacks see a significant spike

Attacks are more volatile than ever. A single attack can consume nearly 80 percent of traffic at peak periods, and in 2021, credential stuffing spikes hit up to 76 million per week. Attack rates doubled during peak season in November, making it the most dangerous month in 2021. Bots were used almost exclusively in Black November. 

The Intelligent Bot

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Attackers have continued to invest in increasingly sophisticated bots. Bots mimic human behavior with a high degree of accuracy and in 2021 accounted for 86 percent of all attacks. Today’s bot signatures are three times more complex than signatures of previous years. This level of sophistication makes it more difficult to assess risk and make accurate decisions. Businesses require even more sophisticated analysis to detect anomalies and prevent loss.

Arkose Labs provides support for some of the world’s most recognized brands and platforms, including Honey, LinkedIn, Microsoft, PayPal, Pitney Bowes, Roblox, Venmo, and Zilch, covering industries, including financial services, fintech, gaming, retail, technology and social media, representing more than 1 billion social media users, 60 percent of online video gamers, and 40 percent of all retail volume.

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Adventure Awaits in Boat Bonanza CrocoNile!

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Play’n GO takes players on an unforgettable expedition to Egypt’s legendary Nile in Boat Bonanza CrocoNile!, filled with thrills, spills, and crocodile chills!

Captain Jim and Jane Bonanza are here, sailing into the exotic and mysterious waters of the Nile. Legend speaks of untold treasures hidden beneath its waters, guarded fiercely by crocodiles and the ominous Curse of Sobek. Fans of the Bonanza series and Egyptian adventures will find plenty to love in this latest journey packed with intriguing gameplay and captivating storytelling.

Boat Bonanza CrocoNile! introduces players to heart-pounding gameplay across a vibrant 5-reel, 12-payline slot. Experience thrilling features like Croc Carnage, where crocodiles swim onto the reels upgrading Catch Symbols, and Sobek’s Rage, an intense Lock’n Spin feature with escalating multipliers up to x10. Instant Prize rewards and engaging random features such as Spear Shot and Depth Charge add layers of excitement and align with Play’n GO’s dedication to innovative gameplay.

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Fans who enjoyed previous Boat Bonanza adventures or Egyptian-themed slots such as Legacy of Egypt and Rich Wilde and the Book of Dead will find Boat Bonanza CrocoNile! irresistible. The game masterfully blends adventurous exploration with exotic Egyptian mystique, reminiscent of previous successful Bonanza titles, ensuring it will resonate deeply with players.

George Olekszy, Head of Game Retention at Play’n GO, said:

“Boat Bonanza CrocoNile! encapsulates everything players loved about our Bonanza series, but elevates the excitement with thrilling new mechanics. We’re confident that the game’s adventurous theme and innovative features will keep players coming back for more.”

With its engaging narrative, action-packed gameplay, and visually stunning setting, Boat Bonanza CrocoNile! is poised to be an adventurous addition to any slot enthusiast’s favourites.

The post Adventure Awaits in Boat Bonanza CrocoNile! appeared first on European Gaming Industry News.

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Amusnet Launches Golden Coins Link

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Amusnet has launched its latest jackpot system – Golden Coins Link, designed to elevate player excitement and enhance operator performance. Seamlessly integrated into five popular slots, this progressive system introduces more frequent jackpot opportunities and dynamic features – an exhilarating gaming experience filled with thrills and the potential for significant rewards.

Golden Coins Link reflects Amusnet’s commitment to delivering high-quality, player-centric solutions that help its global network of partners grow and succeed in a competitive landscape. With its captivating gameplay mechanics and seamless integration, the system is set to provide a fresh layer of excitement across online casino portfolios.

At the heart of Golden Coins Link is the Hold & Spin bonus, where players collect special symbols with the chance to unlock big wins. Filling the grid activates the Multiplier Wheel, offering the opportunity to multiply winnings up to 10x or hit one of the top-tier Major or Grand jackpots. Compared to other jackpot systems, Golden Coins Link stands out with its higher frequency of triggering, delivering a more thrilling and rewarding experience.

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Golden Coins Link is currently available in five fan-favourite titles:

• 40 Power Hot Golden Coins Link

• Art of Gold Golden Coins Link

• 40 Bulky Fruits Golden Coins Link

• 100 Bulky Fruits Golden Coins Link

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• 40 Extra Crown Golden Coins Link

These titles combine familiar themes with the excitement of the new jackpot system, offering players a fresh take on their favourite games.

With its engaging mechanics and business-driving benefits, Golden Coins Link empowers operators to boost retention, increase playtime and maximise revenue.

The post Amusnet Launches Golden Coins Link appeared first on European Gaming Industry News.

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Legalizing Online Casino Gaming Could Generate Over $18 Billion in Tax Revenue to US States

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Legalizing online casino gaming could add $18.4 billion to US state budgets, a new study says.

The report, conducted by online casino comparison site BonusFinder.com, analyzed tax revenue generated by online casinos across the seven US states where they are already legal — Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia — to estimate the total economic impact.

Based on average per-adult spending of $262.40 in those markets, the researchers estimated how much revenue the remaining 44 jurisdictions, including Washington D.C., could generate if they adopted similar legislation.

In total, the study estimated that the states are leaving up to $62 billion in gross revenue on the table.

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With a 30% tax rate — an average of the seven states with legal online casino gaming— this would translate into $18.4 billion in tax income annually. Even with a more conservative tax rate of 20%, the figures could reach $12.3 billion.

California is estimated to be missing out on the most — with the analysis showing that its adult population of approximately 31 million could generate up to $2.4 billion in annual tax revenue.

“These numbers highlight two problems,” said Luciano Passavanti, Vice President at BonusFinder.com. “States are missing out on billions in tax revenue, and consumers are being pushed to platforms that don’t offer the same safety, accountability, or responsible gaming tools as licensed operators.”

This concern is backed by a recent report from research firm Yield Sec, which found that 74% of gross gaming revenue in the US in 2023 — totaling $67.1 billion — came from unlicensed, illegal, and unregulated operators.

That means the vast majority of online gambling activity is still happening outside state oversight — costing governments billions in potential tax income and leaving players vulnerable.

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“The demand for online casino gaming already exists — but right now, the money is flowing offshore,” Passavanti added. “States that act now have the chance to bring that revenue back into their own economies, and to do so responsibly.”

States where online casino gaming is already legal are directing the funds into essential public services. In Michigan, more than $400 million from iGaming taxes, which includes both online sports betting and online casinos, went to the School Aid Fund, $4 million to the First Responder Presumed Coverage Fund and $3.7 million to the state’s agricultural and equine development programs.

Beyond the financial upside, regulated online casino markets allow states to implement age verification, deposit limits, and self-exclusion tools, offering far stronger consumer protections than offshore operators.

“With over $18 billion in annual tax revenue potentially at stake, the case for legalization is becoming harder to ignore.” Passavanti said.

“As states continue to explore ways to balance budgets and modernize outdated gambling laws, regulated online casinos could offer both financial upside and meaningful consumer protections — if policymakers are ready to act.”

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The post Legalizing Online Casino Gaming Could Generate Over $18 Billion in Tax Revenue to US States appeared first on European Gaming Industry News.

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