Banks inWorld at Second Life – If you SCAM Your Days are Numbered -itsReal

FREEDOM in Second Life, curtailed again by Linden Labs

clipped from www.smh.com.au Virtual world cracks down on cowboy banks There’s a banking meltdown in Second Life, too. The world’s creator, Linden Lab, has announced it will regulate the virtual banks strictly in Second Life from now on, after one collapsed amid a credit crunch that Linden said posed “unique and substantial risks to Second Life … likely to lead to destabilisation of the virtual economy”. In-world companies such as JT Financial have been inundated by customers wanting to know what is going on. A screenshot shows a virtual bank branch packed with customers, as a notice on the wall says “JTF has not crashed. The system is overloaded right now. Please stay calm … you will all be able to withdraw your money.” Some less scrupulous virtual world inhabitants built “banks” or “ATMs” that were actually Ponzi schemes: paying high interest rates using the money of other depositors.