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Criminals use coins of games online and bitcoin mixing to launder money

Cyber crime has found a gold mine in online games. According to a report published by trend micro, the sale of virtual currency for real money games is an illicit market that promotes laundering money through the conversion of the capital in criptomonedas.

The company says that this activity is not explicitly illegal games badges are not regulated and that the danger lies in that constitutes one of the sources of financing of criminal activities on the network most used, due to the same legal loopholes surrounding the handling of digital cash and the anonymity that this method provides.

THE MODUS OPERANDI

The purchase of “gold” for your World Of Warcraft account doesn’t sound like something serious. In fact, it is a fairly common practice. One of the most popular methods to do so is the exchange of Real money (RMT, for its acronym in English), which consists of the sale or exchange of currency of an ordinary money play. This methodcan be performed between independent individuals, or through portals that offer Exchange service. However, rather than be frowned upon as a dishonest advantage, whose maximum penalty is to close the disruptive user‘s account, is not a crime.

 

Cybercriminals take advantage of this lack of legal penalties to make the process ofmoney laundering, which begins with the theft of credentials from legitimate usersgame or abuse of weaknesses in gaming platforms, continues with the promotion and sale of the coins taken in the robbery, then convert the money in criptomonedas(the preferred bitcoin) mixing profits and use them to finance other criminal activities.

 

Currently, the preferred way to get rid of the trace of the money obtained from criminal activities is to become bitcoins or any other cryptocurrency. Then, another stepto ensure that there are no loose ends is to mix profits with criptomonedas from other sources, deleting the information of the original transaction, a process that is known as bitcoin mixing. In this way, criminals can perform a wash cycle air-tight, totally out of Government control.

 

A DANGEROUS GAME
In a 2015 report published by the Entertainment Software Association (ESA), the organization declared to have excluded earnings from video games of the regulations that apply to virtual currency against the Department of financial service in NewYork, USA.

 

According to research, once the money is free of all suspicion it is used for DDoS attacks (denial of service attacks), cyber kidnappings (ransomware), identity theft and financial fraud against organizations of any kind and inclusive finance forced labour.

 

The report also warned that laws that prosecute those responsible of hacking in online games, an industry that, according to the research, just raised a total of $ 91.8 billion in 2015 there are no. One of the biggest concerns converge in the impunity of cybercrime in a field so prolific accrues in an uncontrolled increase of attacks if not implemented measures to regulate this market with millions of followers.

 

At the moment, gaming companies defend themselves by themselves, developingmeans of security to prevent the intrusion of crooks. So far, twofactor authentication appears to be the most competent method, passwords and messages from security to mobile devices.

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