Microtransactions isn't a gamer's best friend and to the ignorant and unaware it is their enemy.
A 17 year old Canadian kid is in very hot water after charging more than $7,600 onto his father’s credit card while playing a FIFA video game on his Xbox.
Microsoft is looking into the charges though the father was told by his credit card company he would have to pay the bill unless he wanted to charge his son with fraud.
I dunno, I don't buy this kid's story. I mean I can't see the system just letting him make purchases without giving some kind of total or warning that it was costing real money. (If it did that'd be a design flaw they need to correct.)
Plus, not going to lie, but this "kid" is 17. He's old enough now that this excuse doesn't fly. (You're 17, you're old enough to drive a vehicle. You don't get to play the "I didn't know" card anymore. By this time he should be developed enough to read the warnings and use his headmeat to think about things. And if he's not then his parents shouldn't allow him unfettered access to a credit card.)
That stated I do think there should be some kind of system or block to curb these kinds of mass spendings. Something like after a hundred dollars is spent it kicks up a warning screen that basically states "You've already spend $100... Please enter your password to acknowledge and authorize further transactions." And then at every certain amount it'd kick another screen up. Or have a system set up so that after a certain point (like say $500 by default though maybe configurable by the parent) it'd just lock out so they couldn't spend more than that in a set period. (This way they could only spend maybe $500 in a month so if they hit that it'd just refuse to complete any transactions. )