Virtual Banking, Real Risks?


Announced on BBC News, Mindark, the developers of Entropia, get their license to perform on-line banking! Entropia is an online game defined as “The first virtual universe with a real cash economy”.

The Swedish Financial Supervisory Authority accepted and issued a license to Mindark. It allows players to convert their PEDs (“Project Entropia Dollars“) into real money. The Mindark business models relies on micro-payments done by players to buy goods in the game. The license will allow them to offer virtual bank services with facilities like a real one (transfer money, pay goods, convert to real money, …)

Even if they clearly said that regulators will get oversight of financial transactions carried out in the game world (and track malicious activities), they are chances that they will quickly become the target of new attacks! Today, bad guys operate where are potential gains!

Source: Online game gets banking licence.

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