US Rules for Gambling Companies
November 5th, 2007Author: Mark Newman
The two agencies, The United States Treasury and Federal Reserve that work together with the US Department of Justice have initiated a process implementing the Unlawful Internet Gambling Enforcement Act (UIGEA). Thus, final steps are being taken to ensure that internet gambling is banned once and for all.
In spite of the fact that the Act was passed by Congress in 2006 and was designed to avoid any ambiguity about whether or not gambling is illegal, many banks and credit card companies have not stopped payments to illegal sites. They are waiting for the rules “to determine what procedures need to be followed”. The announcement made details those roles and calls on banks, credit card companies and automated payment system companies to have policies that do not allow illegal gambling businesses to be paid.
