FRAUD AND MONEY LAUNDERING IN SECOND LIFE VIRTUAL WORLDS

Cyber criminals are increasingly turning to the opportunities that virtual worlds offer to launder money earned from fraud, malware, and other illegal activities. The increased proliferation of crime committed using virtual forums call for tougher regulations against those who commit computer-based crimes through the use of virtual worlds.

The following questions have been addressed in this article:

Can Virtual Worlds be Misused?
What is Second Life creators’ response to the risks posed by online financial fraud in virtual worlds?
What specific regulations have been implemented by Second Life creators to stem the fraudulent use of their systems?
What additional measures need to be taken by real life law enforcement authorities to adequately protect users of virtual worlds?

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