Zona de Azar Brazil – Brazil: Serasa Experian Announces Technology for Fraud Prevention

Brazil.- November 5, 2024 www.zonadeazar.com With significant growth and increasing popularity, the sports betting market generated R$20.8 billion in August, according to the Central Bank. The BC estimates that around 24 million people placed bets via Pix for betting companies during this period.

However, starting in January 2025, with the new regulations in effect, there will be tax collection, advertising limits, protective measures for consumers, and identity verification processes for bettors, including facial recognition or restricted lists validation.

With these measures in mind, Serasa Experian conducted a survey yesterday, interviewing 2,008 bettors between August 9 and 22 to assess the importance of security and privacy in the betting market.

In the survey, 41% of respondents identified fraud prevention as the main factor when choosing a betting site, and 73% considered identity validation technology as very important.

“These numbers show us that the transition will not be a barrier, as acceptance is positive. We understand that betting companies should promote their initiatives for bettor protection and identity validation in their communications. This is a step to help users not only understand the need for authentication processes but also feel more secure in their environments, adding value to brands that invest in this type of secure and accessible technology,” said Pedro Moreno, head of Authentication and Fraud Prevention Solutions at Serasa Experian.

In response, Serasa Experian developed Valida Bets, which integrates advanced technology for bettor identity validation, ensuring that betting companies comply with new regulatory rules and providing greater security for bettors. The company’s Head of Solutions also highlighted that the project leverages expertise already applied across various sectors.

“This solution can simultaneously protect bettors and help betting companies comply with all mandatory identity validation procedures during the digital journey, which also protects all Brazilians, as these tools prevent the creation of fake accounts under third-party names, thus avoiding fraud,” he concluded.

How Valida Bets Will Work

Valida Bets will enable institutions to comply with the requirements set by the new sports betting regulations. The SPA has published all identity authentication parameters for bettors through directives.

Valida Bets will also feature resources from Datatech, which has included proprietary technology in the project to assist in evaluating economic and financial capacity, device analysis, and identifying bettors prohibited from betting. Additional measures will also be implemented against bonus abuse and fraud.

Edited by: @_fonta www.zonadeazar.com