Bank Scams in Second Life!!

Well, it seems Second Life has closed all banks after months of financial scandals and fraud allegations... the virtual banks have now got their eviction notices from Linden Lab.

The about-face came six days after Technology Review posted a story that described avatar losses and cited the possibility that one virtual-bank meltdown may have produced aggregate losses of some $700,000 in real money to many hundreds of Second Life "residents" in a manner that would be illegal in the real world.

It's quite interesting to see that when you create a virtual world real enough for people to quit their day jobs, and earn a crust selling virtual objects... Along comes virtual crime too!!

I tried signing up to Second Life yesterday, to see what mischief I could get up to in there, however I had some difficulties connecting to the server... So Stay Tuned for Part 2 of Bank Scams in Second Life!