MONTRÉAL, QUEBEC / ACCESS Newswire / March 26, 2025 / LATAM's betting market is set to triple its gross gaming revenue (GGR) between 2020 and 2025. (1) Brazil, Mexico, and Colombia are driving this expansion, with Brazil alone contributing 50% of the region's gaming revenue (2) and projected to reach an annual turnover of USD 10 billion (3). Meanwhile, LATAM's digital payment ecosystem is equally rapidly evolving, with Brazil's Pix outpacing traditional payment methods (4). However, the rise in digital transactions and gaming activity has also escalated fraud risks, with iGaming fraud rates in LATAM significantly exceeding the global average.

AcuityTec, a leader in risk and compliance solutions, has strengthened its Fraud and AML Orchestration Hub with enriched ID database verifications, biometric re-authentication with liveness detection and fraud prevention capabilities. These enhancements provide greater security for customers and transactions in high-growth LATAM markets, including Brazil, Mexico, Argentina, Chile, Colombia, and Peru and help businesses comply with evolving regulatory requirements.

Enriched Identity Verifications
As responsible gaming practices surpass industry standards, operators must implement more sophisticated identity verification measures to combat fraud and meet evolving compliance demands. To achieve this, gaming operators are adopting multi-layered verification strategies. AcuityTec's KYC / AML screening with custom workflows provides a flexible and scalable approach to meeting these challenges.

To reinforce compliance with Know Your Player (KYP) standards that continue to expand under stricter Anti-Money Laundering (AML) and fraud prevention frameworks, AcuityTec has expanded its ID database verification coverage across LATAM. "Many regulators now require operators to conduct enhanced due-diligence before granting account access. Incorporating document-based authentication, biometric validation, and liveness detection ensures the integrity of player identities while mitigating fraud risks and aligning with evolving regulatory requirement," said Alfredo Solis, Managing Director of AcuityTec.

AcuityTec's platform enables thorough cross-referencing of customer data-name, address, gender, date of birth, email, phone, and document ID numbers-against government, utility and credit sources. The key document ID verifications now include:

Brazil: Cadastro de Pessoas Físicas (CPF)

Mexico: Número de Identificación Tributaria (NIT)

Argentina: Código Único de Identificación Tributaria (CUIT)

Peru, Panama, Paraguay, Ecuador: Registro Único de Contribuyentes (RUC)

Chile: Rol Único Tributario (RUT)

Colombia: Número de Identificación Tributaria (NIT)

Adaptive Fraud Detection and Live Monitoring
The platform integrates advanced fraud detection with adaptive defense, leveraging machine learning to identify and mitigate fraud in real-time. Automatically dynamic fraud scores are generated by analyzing user behaviour, transaction patterns, and history data, enabling business to take immediate action against suspicious activities. Additionally, live monitoring of registrations and transactions ensures continuous Know Your Transactions (KYT) surveillance, enhancing security and helping companies comply with local regulations while protecting operators and customers from emerging threats.

"As the gaming industry in LATAM continues to grow, we're committed to equipping businesses with the technology they need to stay secure, compliant, and trusted. Our enhanced Fraud and AML Orchestration Hub empowers LATAM operators to meet regional challenges while protecting both players and operations from emerging threats," adds Solis.

For more information, visit www.acuitytec.com.

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SOURCE: AcuityTec