Comprehensive Fraud Prevention Solutions for Casinos and Card Rooms

In today’s casino gaming market, business operations are complicated by conflicting needs. On one hand, operators wish to defend their organizations against casino fraud and comply with state and federal regulations requiring strict identity & age verification procedures; on the other hand, customer service is the ultimate factor determining if the casino property sinks or swims, so each patron needs to be welcomed and treated properly. The challenge is to achieve balance.

 

Fraud in the Gaming Industry

 

The gaming industry has long been a hotbed of fraudulent activity. Casino fraud has steadily increased over recent years, as the table to the right, showing Suspicious Activity Report filings (SAR’s), indicates.

Due to the very nature of the gaming industry, locations can be exposed to a variety of different fraudulent crimes. Counterfeit money, fake credit cards, phony checks, and applications for credit using stolen identification are all common occurrences in gaming establishments. Many of the larger players in the industry which operate highly complex businesses - involving restaurant, bar, nightclub, retail, hotel, and theme park operations, in addition to gaming - find that managing exposure to fraud to be labor intensive and inaccurate, thereby multiplying their exposure to regulatory scrutiny.

As a casino, you know how important it is to make sure that all cash coming in is 100% real. Not only will criminals take advantage of lax fraud prevention measures, but any reports of counterfeit cash being given or received can be damaging to your reputation.

And you also know how important it is to keep underage folks from the casino floor - letting underage patrons on the casino floor, even unwittingly, can cost a casino $100,000!

The moral of the story is: to prevent fraud, casinos need to make sure that all their transactions are trustworthy before they are completed.

And how can you make sure that transactions are trustworthy before they are completed?

By authenticating identity and payment documents at the time the transaction occurs using counterfeit detectors

 

 

Counterfeit detectors allow casinos to:

Authenticate Payments

 

 

Derived from the risk assessment, a “layered solution” approach is then recommended which matches different types of equipment to different areas of the operation. The goal is to provide complete coverage against fraudulent transactions, only placing “high end” equipment capable of performing more complex identity verification tasks in those locations where exposure to high–dollar fraud is justified, or where state or federal guidelines suggest it may be required.