Arrr mateys, yer scallywags be plunderin' the digital treasure and the crown be investigatin'! Avast, beware the consequences!
2024-04-12
Arrr mateys! Some video games be likened to rogue banks, says the CFPB. They be keepin' an eye on the scallywags, warnin' that wee ones be in danger. Best keep a weather eye on yer loot, me hearties!
Aye, me hearties! Listen up, ye scallywags! The government be keepin' an eye on video games with in-app purchases, digital currencies, and marketplaces that be popular with the young'uns. These games operate like banks, but without the proper rules and protections, according to the Consumer Financial Protection Bureau. They be raisin' concerns about how much data bein' collected from the wee ones and their parents.For years, games like "Fortnite" have been temptin' players with small fees to buy items and currencies with real money, similar to tokens at places like Dave & Buster’s. The CFPB be warnin' that these digital assets can have considerable value, but without proper regulations to protect 'em.The agency be fretting about children gettin' involved in these markets without their folks knowin', learnin' about money through games. Gaming companies be seein' young players as future spenders and collectors, leadin' to potential financial losses if their accounts get hacked or scammed.Players have reported bein' victims of hacks, theft, and scams, with limited help from the gaming companies. The CFPB be keepin' an eye on the industry, watchin' out for how data bein' collected and used, makin' sure privacy rules be followed. They be keepin' a close watch, but no action be taken yet, just monitorin' the situation.