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Simple Solution to MMOGs = Massive MoneyLaundering Online Games
Category: Default Game: Default Posted on Sep 26, 2007 6:35 pm
Law of the Game’s Mark Methenitis has a simple solution to the problems Symantec is addressing. For those of you who missed it in the recent barrage of Halo 3 hysteria, Symantec has discovered that MMOs are the perfect forum for money laundering. Methenitis offers a solution although some players, particularly the ones raking in dough off these games would object.
Methenitis proposes taxation on virtual revenue based on cash out value. Technically, players are supposed to claim any money earned from an MMO as ordinary income, but as you can imagine, few do. Having the department of taxation for whatever country the player resides in notified of transactions would tie a person to an MMO account and make it less easy to overlook one individual filtering money through 100 accounts.
Marl Menthenitis writes a blog Law of the Game that covers video games, gambling and other legal discussions specializing in Video Game Law. His credentials come with education, law school and gamer card.
Tags: MMO money laundering symantec
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