Abstract
Purpose – The purpose of this paper is to highlight emerging threats in cyberspace, with particular reference to financial crime in the virtual world, which have real life implications, as well as to recommend ways in which the threat may be mitigated.Design/methodology/approach – The methodology adopted consisted of an extensive literature review on topics to include cyber crime, virtual worlds, and financial crime.Findings – Virtual worlds such as Second Life play a key role in supporting real world activities such as education, training and business and as such, should not be dismissed purely as a “gaming” environment. In addition, emerging technologies coupled with the lack of legislation and regulation within virtual worlds has created an environment where a variety of crimes can be committed without fear of detection or prosecution. A further concern is its use by criminals as a vehicle to mask real life crimes such as fraud, identify theft and money laundering. The question is to what extent the bl...
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