{"id":21549,"date":"2024-06-21T11:43:51","date_gmt":"2024-06-21T09:43:51","guid":{"rendered":"https:\/\/www.in-diem.com\/use-of-video-games-for-money-laundering-illegal-activities\/"},"modified":"2026-08-12T14:40:46","modified_gmt":"2026-08-12T12:40:46","slug":"use-of-video-games-for-money-laundering-illegal-activities","status":"publish","type":"post","link":"https:\/\/www.in-diem.com\/en\/use-of-video-games-for-money-laundering-illegal-activities\/","title":{"rendered":"Use of Video Games for Money Laundering. Illegal Activities"},"content":{"rendered":"
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The 21st century has immersed society in an unprecedented technological era, where video games are not just youth entertainment, but a universal phenomenon encompassing all ages. From our grandparents to our mothers, almost everyone owns a smartphone, a device that usually includes some type of pre-installed video game. This fact highlights digital penetration in daily life, a scenario where familiarity with new technologies is reflected in constant news coverage of technological advancements, negative experiences, and even major industry events and conventions. <\/p>\n\n

However, this extensive knowledge has also opened doors for those seeking to exploit these platforms for illicit purposes<\/strong>. Specifically, we will focus on how video game sales platforms and online games have become tools for money laundering<\/strong>. To better understand this concept, we refer to Chapter XIV of the Spanish Penal Code, which describes money laundering as the process of concealing the illegitimate origin of goods or assets to avoid the criminal consequences associated with them. <\/p>\n\n

Methods of money laundering through video games<\/h2>\n\n

Sale of video game accounts<\/strong><\/h3>\n\n

Take, for example, the popular online game “Fortnite”<\/em>. Criminals use fraudulently acquired virtual currency to purchase in-game items, which are then sold along with the account at a reduced price through third-party websites. This method creates several layers of transactions that complicate tracing by authorities, leveraging the anonymity offered by the internet. Funds for these operations typically come from illegal activities such as the Dark Web<\/strong><\/em> or stolen bank data. <\/p>\n\n

Trading Items on “Steam”<\/em> Platforms<\/strong><\/h3>\n\n

“Steam”, developed by Valve Corporation, is a digital distribution platform that hosts an active marketplace where video game items are bought and sold. For example, in the game “CSGO”, players can obtain decorative items through paid draws, which can then be traded. Cybercriminals use illegally obtained assets to acquire these items and then sell them at lower prices or buy low-value items at exorbitant prices to then sell them at the same price through another account, effectively “cleaning” the money in the process. <\/p>\n\n

This money laundering method has not only moved significant sums of money in the black market, estimated at 2 billion euros annually on “Steam” alone, but has also prompted a public response from the platform’s operators. According to statements by a “Steam” spokesperson, the company is actively collaborating with money laundering prevention organizations, such as ASEBLAC in Spain, to address these abuses. <\/p>\n\n

This analysis highlights the need for continuous vigilance and regulation in the digital sphere to prevent the exploitation of video game platforms for money laundering activities.<\/p>\n\n

How can we help you?<\/h3>\n\n

Currently, in our country, the regulatory context on this matter is articulated from Law 10\/2010, of April 28, on the prevention of money laundering and the financing of terrorism<\/a><\/strong>, which establishes a series of obligations for obliged entities to prevent illicit funds from entering the financial circuit and being used to facilitate the financing of terrorism.<\/p>\n\n

The Legal Departmentat IN DIEM<\/strong>,<\/strong><\/a> which specializes in money laundering, prevention, defense, and legal services,<\/strong> operates in all areas and sectors related to capital movements or transactions.<\/p>\n\n

Our expert team will study your case regardless of where you wish to establish your company. Contact us, we are available 24 hours a day, any day of the week, without obligation. <\/p>\n\n

What are our services?<\/strong><\/p>\n\n