Valve updates CS:GO key change rules to counter money laundering5th January 2020
Valve – the company behind the massively popular games distribution platform Steam – has updated the key change rules for Counter-Strike: Global Offensive (CS:GO).
Trading in-game skins for characters and weapons has become rather popular in video gaming because it allows players to express themselves and stand out.
However, it is largely unregulated with Know-Your-Customer and Anti-Money Laundering checks often absent in the industry. This has paved the way for criminals to launder large amounts of money.
Valve says it has now addressed the issue while noting changes it will be making to CS:GO.
Container keys purchased in-game can no longer leave the account from which they were purchased from, meaning they cannot be sold on the Steam community market or traded.
Pre-existing keys will be unaffected by the new changes and can be freely traded.
The rules have been amended since Valve observed that while most trades were legitimate in the past, worldwide fraud networks have shifted focus to using CS:GO keys to liquidate their illicit gains.
“At this point, nearly all key purchases that end up being traded or sold on the marketplace are believed to be fraud-sourced,” as spokesman said.
“As a result we have decided that newly purchased keys will not be tradeable or marketable.”
For the most part, the changes will not affect the bulk of CS:GO’s user base since they can still purchase the loot boxes and keep them in their account, they just will no longer be able to sell or trade them.
This will impact some legitimate players, notes Valve, but it reaffirms its commitment to combating fraud as a priority.
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