CAMS · Question #957
While gaming platforms are typically used for recreational purposes, they can potentially be used for terrorist financing through games in which players can:
The correct answer is C. trade in-game items with other players that can be exchanged for fiat currency. Terrorist financing can be facilitated on gaming platforms particularly through the trading of in- game items for fiat currency. This mechanism allows for the movement of value outside the formal financial system, potentially evading detection and reporting requirements. "One of
Question
While gaming platforms are typically used for recreational purposes, they can potentially be used for terrorist financing through games in which players can:
Options
- Abuy in-game items with virtual in-game currencies.
- Bexchange in-game items with other players.
- Ctrade in-game items with other players that can be exchanged for fiat currency
- Dobtain in-game materials by performing in-game activities.
How the community answered
(41 responses)- A7% (3)
- B2% (1)
- C78% (32)
- D12% (5)
Explanation
Terrorist financing can be facilitated on gaming platforms particularly through the trading of in- game items for fiat currency. This mechanism allows for the movement of value outside the formal financial system, potentially evading detection and reporting requirements. "One of the key ML/TF risks in online gaming is the ability to convert virtual assets or in-game items into real-world (fiat) currency, thereby providing a channel for laundering money or funding terrorist activities."
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