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RE: Is Gaming the New Gambling? - Man embezzles $4.8 million from employer, Spends $1m on Mobile Game

in #life8 years ago

When I first read your article i was assuming that the money "spent" on the game was being laundered...there is a technique of money laundering which uses the virtual currency or markets in MMO's to move the illegal assets.

But "Game of War"?

As a former gamer (7 years wasted on WOW), I can understand the dopamine rushes, but a million bucks on a tablet game? WOW!

Some additional reading on money laundering via online games (including online gambling):
http://ro.ecu.edu.au/cgi/viewcontent.cgi?article=1004&context=icr

http://lawofthegame.blogspot.com/2007/09/mmog-massive-moneylaundering-online.html

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=987056

http://www.mcafee.com/in/resources/white-papers/wp-jackpot-money-laundering-gambling-summary.pdf

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Cool. Thanks I hadn't even considered the money laundering angle. In this case it sounds like a case of addiction but thanks for the links I will take a look:)

I don't think there is even an aftermaket for Game of War, so I think it's addiction, too. In these articles they discuss terror financing via this method of laundering, but the terrorists actually use an exchange method called hawala.

Yes. Interesting. I will put these things on my list to read (which is crazy long right now). May be a good subject for a future post (unless you want to cover it). Thanks for the links:)