Launder That Money: RMTs in Asian MMOs [Crime]

A gold farming/money laundering ring in South Korea has been accused of moving somewhere in the neighborhood of $38 million USD from Korea to China (with the help of real money transactions). According to PlayNoEvil, they made false purchases to a Hong Kong paper company to move the money, which is what eventually led to their arrest. In addition to the ring leaders, an additional 11 people were arrested:

Charges were also filed against 11 Koreans who allowed the scheme to use their bank accounts for money laundering.

Jeong and his ring reportedly sold the game money illegally produced in China using cheap labor and virus programs. They are believed to have taken a commission of three to five percent of the money traded to purchase game money.

And you thought gold farming was a problem. The connection between the gold farming ring and the money laundering ring is unclear, but this is just one more example of RMTs being put to, uh, creative uses.

`Online Game Ring Smuggled Out $38 Mln to China` [donga.com via PlayNoEvil]

http://feeds.gawker.com/~r/kotaku/full/~3/431940750/launder-that-money-rmts-in-asian-mmos

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