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Money laundering within gaming ecosystem remains big threat: Report
The New Indian Express
|October 25, 2024
Though the country's 568 million gamers drive the online gaming industry, money laundering within the gaming ecosystem remains a big threat as in-game currencies, cryptocurrencies, and offshore betting platforms are increasingly being used for illicit activities.
Digital India Foundation's Combating Money Laundering In Online Gaming Ecosystem report says there has been an uptick in use of digital currencies such as Bitcoin and Ether as payment options for in-game transactions. Since gaming assets can also be converted or transferred into crypto assets, it also resulted in an increase of money laundering and fraud on online gaming platforms.
This story is from the October 25, 2024 edition of The New Indian Express.
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