11 votes

Counter-Strike: Global Offensive container keys can no longer be traded or sold on the Steam Marketplace, due to extensive use for money laundering and fraud

6 comments

  1. Keegan
    Link
    I have no problem with this. At best a few cents are saved by buying keys on the marketplace, and selling them is pointless if you only buy them right before you use them.

    I have no problem with this. At best a few cents are saved by buying keys on the marketplace, and selling them is pointless if you only buy them right before you use them.

    5 votes
  2. [5]
    kfwyre
    Link
    Can anyone explain how and why these are used for money laundering/fraud?

    Can anyone explain how and why these are used for money laundering/fraud?

    3 votes
    1. [3]
      zlsa
      Link Parent
      Keys were used as the de facto way of converting Steam Wallet currency back into USD: "I'll give you a key, and you PayPal me $2.00."

      Keys were used as the de facto way of converting Steam Wallet currency back into USD: "I'll give you a key, and you PayPal me $2.00."

      4 votes
      1. [2]
        kfwyre
        Link Parent
        Ah, thanks for the explanation. Why would people be willing to utilize an outside payment method like that? (Not the scammers, I mean people legitimately buying keys). That would raise serious...

        Ah, thanks for the explanation. Why would people be willing to utilize an outside payment method like that? (Not the scammers, I mean people legitimately buying keys). That would raise serious "scam" red flags for me.

        2 votes
        1. zlsa
          Link Parent
          Because Steam doesn't have a way to "cash out" Steam Wallet currency, and keys were a good, stably-priced item to use. And yes, scams were/are very, very common with this method, as there is no...

          Because Steam doesn't have a way to "cash out" Steam Wallet currency, and keys were a good, stably-priced item to use.

          And yes, scams were/are very, very common with this method, as there is no way to perform the key trade + PayPal transaction atomically.

          4 votes
    2. stu2b50
      Link Parent
      Take dirty money, buy steam gift cards, get steam dollars in account, buy keys, sell keys to people. Now you have dollars in your bank account as a key trader.

      Take dirty money, buy steam gift cards, get steam dollars in account, buy keys, sell keys to people.

      Now you have dollars in your bank account as a key trader.

      2 votes