The Equity Poker Network (EPN) has issued a press release stating that evidence of chip dumping was discovered earlier this month and the network has taken appropriate action against the perpetrators.
Four players were reportedly involved in the scam, which is typically done by intentionally losing chips to another player. Chips are dumped to either aid another player in his or her quest to win a tournament or are dumped at a cash table as a means of laundering funds.
In the latter circumstance, money in the player’s account who is doing the dumping may have been deposited in a fraudulent manner such as with a stolen credit card. The player with a valid account who receives the dumped chips will then cash out the ill-gotten funds.
5Dimes alerts EPN fraud team
The alleged chip dumping at EPN was spotted on Monday, Sept. 22 by a representative on 5Dimes, a network skin. A “very large sum of funds was incorrectly credited to the online account” of a 5Dimes player on Sept. 17. The rep then informed the EPN Fraud and Security Team.
The fraud team carefully observed the suspected chip dumper’s play and “identified suspicious activity occurring between him and three new Full Flush Poker (FFP) player accounts, which were registered on September 18.”
Hand histories of the four suspect accounts were analyzed and revealed that the 5Dimes player “consistently” dumped chips to the FFP players, who requested cashouts worth thousands of dollars. EPN security determined that “the three FFP accounts were set up for the sole purpose of cashing out as much of the misappropriated funds as possible.”
What to look for
In studying the hand histories of a possible chip dumping scam, the jig is usually up when a fraud team spots large bets made with poor hands and/or large bets and raises by the chip dumper who will then fold his cards on fourth or fifth street. Opening a new account and then attempting to withdraw large funds just a few days later is another red flag for network investigators.
The welfare of our players remains our number one priority, and we will not tolerate cheating or any other form of fraud occurring on EPN,” said a network spokesperson. “We take all necessary precautions to safeguard our Network, and to protect our players and the integrity of their bankrolls. Our Fraud Team has worked diligently to identify this irregularity, and to deal with the perpetrators quickly and permanently.”
The colluding perps had their online accounts disabled. The money was confiscated and returned to 5Dimes.
Not the first incident at EPN
This was not the first time that EPN announced that its investigators had discovered and put an end to fraudulent activity among players on its network. In February, a “collusion ring” was found to be operating and the accounts of a number of players were “quickly and permanently” shut down.
Collusion may occur on online poker sites more than players realize. The incidents found are likely not announced, as most sites would rather not draw such negative attention to the goings-on at their sites.
It is somewhat refreshing that EPN has chosen to go in the opposite direction and report to players and the public when fraudulent activity is discovered. Such transparency is needed throughout the industry, as there are many players who continue to be wary and skeptical of the integrity of online poker sites.