Your2ndPlace

Banca d'Italia SL has issued a statement that indicates they have received money fraudulently obtained, and that Linden Lab is fining them for having received the funds. Can Linden Lab do that? It is well within their magic circle; here is the reference in the Risk API which is, incidentally, not mentioned in the Terms of Service or Community Standards. Here is the relevant quote, emphasis mine:

...If Linden Lab, in its sole discretion, determines that a Second Life user has purchased Linden Dollars for real currency through any means other than LindeX, and that the seller of such Linden Dollars acquired such Linden Dollars through fraudulent means, or any other means in violation of the Terms of Service, then Linden Lab will consider the buying user a complicit party in the fraud or violation. As a penalty for participation in such fraud or violation, Linden Lab will reduce the Linden Dollar balance of the buying Second Life account (and/or any Second Life accounts owned or operated by, or affiliated with, the owner of the buying account), by any amount up to 150% of the amount of Linden Dollars involved in the transaction. In addition, repeated participation in such fraud or violation will result in suspension or cancellation of the buying party's accounts. (The selling account will of course be suspended or cancelled on a single fraud or violation at Linden Lab's discretion.)...

Touchet Group, which became L&L Bank Trust, suffered these same fines - as well as countless others.

It is a silly rule, since there is no way that one can decide whether or not to accept money being given to you. Anyone can fall victim to it. And Linden Lab makes 50%.

Meanwhile, Banca d'Italia SL customers are promised that they will be repaid.

Technorati Tags: Banks Business Linden Lab Metaverse Op/Ed SecondLife Banca d'Italia SL fraud magic circle