Canada
Fraudsters in Canada Shift Focus to Travel and Leisure
As the prevalence of digital fraud attempts on businesses and consumers continues to rise, TransUnion’s newest quarterly analysis found that fraudsters are re-focusing their efforts from financial services to the travel and leisure and gaming industries.
Across industries, the rate of suspected digital fraud attempts1 rose 16.5% globally when comparing Q2 2021 to Q2 2020. In Canada, the percentage of digital fraud attempts increased at a much higher rate of 44.9% during the same time period. Gaming and travel and leisure were the two most impacted industries globally for the suspected digital fraud attempt rate, rising 393.0% and 155.9% in the last year, respectively. In Canada, this rate rose 209.8% for gaming and 216.1% for travel and leisure.
TransUnion monitors digital fraud attempts reported by businesses in varied industries such as gambling, gaming, financial services, healthcare, insurance, retail and travel and leisure, among others. The conclusions are based on intelligence from billions of transactions and more than 40,000 websites and apps contained in its flagship identity proofing, risk-based authentication and fraud analytics solution suite – TransUnion TruValidate “It is quite common for fraudsters to shift their focus every few months from one industry to another,” said Anne-Marie Kelly, head of Market Development, Identity Management and Fraud Solutions at TransUnion. “Fraudsters tend to seek out industries that may be seeing an immense growth in transactions. This quarter, as countries began to open up more from their COVID-19 lockdowns and travel and other leisure activities became more mainstream, fraudsters clearly made this industry a top target. The immense growth in gaming fraud also can likely be attributed to the shifts in focus of fraudsters as this growing market becomes a larger target.” An example of the shift in focus of fraudsters can be seen in financial services. Global financial services suspected online fraud attempt rates had risen 149% when comparing the first four months of 2021 and the last four months of 2020. But when comparing Q2 2021 and Q2 2020, the rate of suspected online financial services fraud attempts have still risen, but at a much lower rate of 18.8% globally and 29.7% in Canada.
Global Industry Year-over-Year Suspected Digital Fraud Attempt Rate Increases and Declines in Q2 2021
Industry Year-over-Year Suspected Digital Fraud Attempt Rate Increases and Declines in Q2 2021 Coming from Canada
More than one-third of consumers continue to be targeted by COVID-19 related digital fraud
As online fraud attempts against businesses continue to escalate, one in three consumers stated that they have been targeted by a digital fraud scheme related to COVID-19 during the second quarter of 2021. TransUnion’s Consumer Pulse study in June 2021 found that approximately 36% of global survey respondents said they were targeted by fraudsters in COVID-19 related digital schemes. The same percentage of respondents (36%) in Canada also said they were targeted. Phishing is the top type of COVID-19 related digital fraud impacting global consumers in Q2 2021. Phishing is a cybercrime that uses methods like email, text messages and websites to steal personal information, which criminals use to commit identity and financial crimes. Among global consumers who say they were targeted with COVID-19-related digital fraud, 33% state they have been targeted by or fallen victim to such fraud. Stolen credit card or fraudulent charges was the second most cited type of COVID-19 related online fraud among those targeted, affecting global consumers at 24%. In Canada, phishing was number one at 41% followed by stolen credit card or fraudulent charges at 25%.
“More than one in three Canadians surveyed have been targeted by or fallen victim to digital fraud during the pandemic, placing even more pressure on businesses to ensure their customers are confident in transacting with them,” said Kelly. “As fraudsters continue to target consumers, it’s incumbent on businesses to do all that they can to ensure their customers have an appropriate level of security to trust their transaction is safe all while having a friction-right experience to avoid shopping cart abandonment.”
Industry
Suspected Fraud
Percentage
ChangeTop Type of Fraud
Largest Percentage Increases
Gaming
393.0%
Gold Farming
Travel & Leisure
155.9%
Credit Card Fraud
Gambling
36.2%
Policy/License Agreement Violations
Largest Percentage Declines
Logistics
-49.2%
Shipping Fraud
Telecommunications
-30.8%
True Identity Theft
Insurance
-16.7%
Suspected Ghost Broker
Industry
Suspected Fraud
Percentage
ChangeTop Type of Fraud
Largest Percentage Increases
Travel & Leisure
216.1%
Credit Card Fraud
Gaming
209.8%
Gold Farming
Retail
139.4%
Inappropriate Content
Logistics
90.3%
Shipping Fraud
Largest Percentage Declines
Telecommunications
-97.2%
True Identity Theft
Gambling
-39.8%
Policy/License Agreement Violations
Communities (Online dating,
forums, etc.)-22.2%
Profile Misrepresentation
AGCO
AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns
The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.
Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.
Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.
The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.
Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.
The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.
“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.
Andrew Cochrane Chief Business Officer of GiG
GiG increases Ontario market presence, powering the launch of Casino Time
Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.
The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.
GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.
Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.
Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.
Andrew Cochrane, Chief Business Officer of GiG, said: “GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.”
D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”
Bragg Gaming Group
Bragg Gaming Announces Resignation of Chief Financial Officer
Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.
Matevž Mazij, Chief Executive Officer and Chair of the Board, commented: “We thank Ronen for his dedication and commitment to Bragg over the past four years and for his unwavering service as a pivotal member of the leadership team.
“During his tenure as CFO, the Company has undergone huge positive transformation including being uplisted to the Toronto Stock Exchange, dual listed on the NASDAQ and successfully completing two acquisitions, all while reporting consecutive years of revenue, gross profit and adjusted EBITDA growth. We wish Ronen all the very best in his future endeavors.”
Ronen Kannor commented: “It has been an honor to be part of the Bragg team which has successfully navigated many challenges and continued to deliver consistent growth over the past four years. I thank the Board for their support throughout my time with Bragg, and I am now fully focused on ensuring a smooth handover to my successor.
“Special thanks goes to my finance team, who work tirelessly to deliver the positive change and financial growth that the Company continues to achieve. I wish them and all of my colleagues continued success with Bragg now and in the future.”
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