Msida, Malta, September 25, 2025 –(PR.com)– The European iGaming sector is losing over €5 billion annually to fraud, with nearly half of operators reporting revenue losses above 10% and 15% losing more than 20%, according to recent industry research. Fraud in the industry surged by more than 80% in 2024, fuelled by identity theft, money laundering, bonus abuse, and the growing use of AI-driven schemes such as deepfakes and automated bots.
Against this backdrop, X-faces positions itself as a technology partner for iGaming operators, combining instant KYC checks, advanced fraud prevention measures, and behavioural analytics within a single AI-powered platform. Already adopted by leading operators, the solution helps reduce fraud, protect revenues, and build player trust without adding friction to the onboarding journey.
“Operators are under pressure to balance compliance, security, and player experience,” said Aleksey Armach, Co-Founder and Managing Director of X-faces. “Our role is to make that balance possible — protecting revenues and reducing fraud while keeping onboarding seamless for genuine players.”
“From the beginning, we developed X-faces to be more than a verification tool,” added Maksim Karandashov, Co-Founder and CTO of X-faces. “By embedding AI and behavioural analytics at the core, we created a system that is fast, scalable, and ready to adapt to the evolving fraud landscape.”
Affiliate fraud has become one of the most damaging challenges for iGaming operators, particularly through multi-accounting and bonus abuse. In one deployment, X-faces reduced the share of fraudulent affiliate traffic from around 33% to just 7–8% — a cut of nearly 75%. This not only blocked fake accounts before they could exploit promotions, but also helped operators stop wasting budgets on fraudulent traffic and redirect resources to genuine players.
Founded in 2024, X-faces is a Malta-based technology company with a growing team across Europe. The platform has already been implemented by several operators and is designed to scale quickly into new markets. Looking ahead, X-faces plans to extend its solutions beyond iGaming to industries such as fintech and cryptocurrency exchanges, where secure and seamless onboarding is equally critical.
About X-faces
X-faces is a Malta-based AI-powered platform focused on KYC, fraud prevention, and behavioural analytics for the iGaming industry. Founded by Maksim Karandashov and Aleksey Armach, the company delivers scalable, compliance-ready solutions to operators worldwide.
