Money laundering in online gaming: Cryptos, offshore betting platforms used for illicit activities

BENGALURU: 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 that there has been an uptick in the use of digital currencies such as Bitcoin and Ether as payment options for in-game transactions.