Ensuring compliance can save operators millions of dollars, and AI is helping

It is well known that complying with anti-money laundering (AML) laws and regulations is not an easy task to achieve, especially in an industry where a lot of money is moved on a daily basis, such as iGaming. This constant challenge has caused many operations to be forced to shut down, and this clearly should not be the case. However, in an effort to prevent money laundering, operators in this industry have turned to the technology provided by artificial intelligence (AI), which is capable of detecting any related anomalies in real-time.

The fight against fraud and criminal acts has always been central to the history of the iGaming industry, even in this digital age, which is being transformed daily by new technological advances. In response to fraud and money laundering prevention, many online casinos have found in technology and AI an effective solution to monitor illicit movements in real-time.

Currently, the use of AI is already being implemented by some gaming operators, which use it not only as a control measure but has also helped them to significantly reduce operational costs. Additionally, obtaining efficiency in the streamlining of processes and more effective control of security systems.

Compliance with AML regulations is undoubtedly one of the most important benefits of IA. It is based on mathematical fraud detection patterns that analyze the behavior, location, and transaction habits of players, in order to activate security mechanisms when something is out of line or contradicts a spending pattern. Aside from eliminating false alarms, which are often a headache for security specialists, the AI has a way of preventing any illicit transactions that do not serve AML standards in an efficient and effective manner.

There is no doubt that AI is playing a crucial role in the iGaming industry, as it is enhancing the security of businesses and customers in cyberspace.