Money Laundering in Cyberspace
Chapter 4: Money and Culture: Its History and Evolution. A Virtual Reality
Dishonest money dwindles away, but he who gathers money little by little makes it grow. (Proverbs 13: 11) INTRODUCTION Within this chapter the history of money and its place in society will be discussed along with the place of money’s rules and regulations. The aim of the chapter will therefore be to examine the proposition that throughout history money has been a continuously changing phenomenon. In other words, in relation to money, the chapter will show that in what we now consider to be virtual or un-real may, if we take history as a guide, be considered the norm in the future. It is this development and social development of human psychology that will be explored alongside the lack of rules and regulations of money and finance in a virtual world. Human culture, society and psychology is an important asset in the development and growth of money and finance and innovation can only be stifled by lack of awareness of this innovation. The chapter is therefore posing a question which will be examined in Chapter 6 which is if the virtual money and economy is considered as real, how can the real world laws be used to control and govern activities which use virtual money? For this to happen, human minds need to grapple with the concept of money in its virtual form and devise laws to transgress the virtual platform and intersect bifurcating jurisdictions. The chapter therefore is divided into several parts. First, the chapter will examine the history...
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