How Money Launderers are Making Money through Video Games?

Whenever we look upon the history of video games, it is quite complicated. But with time, it has been interesting or reasonable with the discovery of personal computers. So, video games have become more reasonable and affordable. So, now video games have become the source of people to reduce anxiety, stress and the way to escape from the real world for a little time. 

Money laundering is a crime in which criminals try to make the money illegally or by committing a crime. Whenever you think about money laundering, a picture will come in your mind that is through shell corporations, nail salons, and offshore bank account. It is strange to know that now video games have become the channel for money launderers to make money illegally. 

Money laundering and fraud through video games have become widespread in the world. Even in the game’s market place, the launderers have started the trading activity. It is shocking to hear they are using the specific language for money laundering purposes in online games. 

Online games- A Market Place for Criminals

It is also heard that criminals also got access to the credit card details through online games. Moreover, they are also doing some sort of other illegal activities through these online games. With the use of virtual currency or a specific item, fraudsters are committing a crime and the next step of these fraudsters is to sell the virtual currency. Usually, they sell the specific item or virtual currency to an unwitting gamer at an apparent discount by using various online marketplaces.

This fraud had been clear in the past years through the investigation of the famous game Fortnite by Sixgill. In the Fortnite’s game currency, some of the cybersecurity researchers found some of the discounted V-bucks. In-game currency, Fortnite had been sold on the dark web. So, cyber researchers find out that Fortnite items worth hundreds of thousands of dollars were trading on eBay.

So, with this technique, virtual items are the biggest target for the fraudsters in the gaming industry. Furthermore, virtual weapons are the biggest advantage for some of the players in which they find a way to prompt themselves through personalized avatars in online communities.

Players even get ready to pay real money for the virtual goods and in this way, they get scammed. Players are still trading the items for the valve’s game in the Steam Community Market. There are thousands of items available here that cost hundreds of dollars. A flip knife “Bright Water” and an army gun “Souvenir” have a price of 2000 dollars.

Conclusion

However, it is not illegal to sell game items but some fraudsters are taking advantage of it. In some states, you can even sell old copies of Xbox and PlayStation. But the main thing is that try to be aware of these frauds and don’t make the video games a platform or channel for the fraudsters or the criminals to launder money.

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