 | Laundering money in MMOsOctober 27th, 2008 |
It’s starting to happen, after there being years of rumors and little concrete evidence. And where it happens on large scales, regulation cannot be far behind.
Last week Korean police arrested a group responsible for laundering money generated by Chinese gold farming from Korea back to the mainland. Over 18 months, the group wired $38 million from Korea to a Hong Kong paper company as payments for purchases.
– Virtual Worlds News: Group Laundered $38M in Virtual Currencies in 18 Months.
To repeat one of my favorite quotes, heard at a conference years ago, “well, that’s not drug kinds of money, but it’s certainly terrorist kinds of money.”
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