Honestly speaking, this paper has nothing to do with criminal money laundering. Just a snapshot of third-grade forum with script kiddies out of inner circles.
Money laundering is when several fake corporations established and begin transfering shitpiles of botnet and card money from Baltic states to "isles" to such an extent that whole countries are scared of opening accounts for "internet startups" after that.
The thing is, what criminal money laundering "is" can change drastically when new opportunities present themselves. It does need to scale, but if it can be reasonably automated (or delegated to low- or unpaid grunts, like the work-from-home scams), individual transaction size can be quite small, and that may even be preferable.
yeah, I just now learned arxiv isn't peer reviewed. Considering magnitude helps with perspective.
However, is it far fetched to think illicit funds might finance the development of a virtual economy, in a mobile game perhaps, that could be used to launder money? Seems theres a need for fraud detection practices to extend into virtual economies as well.
However, is it far fetched to think illicit funds might finance the development of a virtual economy, in a mobile game perhaps, that could be used to launder money?
I don't think so.. The lure is that it can be fast and automated, and that using new technology will help avoiding the feds.
Why bother? Any financial attorney in any part of the world knows how to cash or launder money, or, at least, will point to someone who can (for a small mediator fee).
Money laundering is when several fake corporations established and begin transfering shitpiles of botnet and card money from Baltic states to "isles" to such an extent that whole countries are scared of opening accounts for "internet startups" after that.