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Please use this identifier to cite or link to this item: http://hdl.handle.net/10628/351

Title: Are the financial transactions conducted inside virtual environments truly anonymous? An experimental research from an Australian perspective.
Authors: Irwin, Angela S. M.
Slay, Jill
Choo, Raymond K.-K.
Liu, Lin
Keywords: Electronic funds transfers - Security measures
Online financial transactions
Money laundering - Prevention
Terrorism financing
Know Your Customer - Law and legislation
KYC - Law and legislation
Custoner Due Diligance - Law and legislation
CDD - Law and legislation
Online Financial Service Provision
OFSP
Massively Multiplayer Online Games
MMOG
Issue Date: 2012
Publisher: Emerald
Citation: Irwin, A. S. M., Slay, J., Choo, R. K.-K., & Liu, L. (2012). Are the financial transactions conducted inside virtual environments truly anonymous? An experimental research from an Australian perspective. Journal of Money Laundering Control.
Abstract: This paper examines the identity and payment method verification procedures implemented by a number of popular massively multiplayer online games (MMOGs) and online financial service providers (OFSPs) to determine if the systems they currently have in place are sufficient to uncover the identities of those who may wish to use such environments to conduct money laundering or terrorism financing activity. The paper also investigates whether the payment instruments or methods used by account holders to place funds into their account(s) hinder or assist investigators to expose the real-world identity of the account holder. The paper then discusses whether it is feasible and/or desirable to introduce know your customer (KYC) and customer due diligence (CDD) legislation into virtual environments and illustrates an effective KYC approach which may assist MMOGs and OFSPs to correctly identify their account holders, should legislation be put in place.
URI: http://hdl.handle.net/10628/351
ISSN: 1368-5201
Appears in Collections:Software Development

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