US trying to nail online gambling coffin shut

The US Treasury and Federal Reserve are taking final steps to ensure that internet gambling is banned once and for all. Although there have been several proponents of the online gambling industry, there have been several attempts that have not either materialized or have been sniped before they gain momentum.

The two agencies, working in conjunction with the US Department of Justice, have begun a process that will implement the Unlawful Internet Gambling Enforcement Act that was passed by Congress last year. The legislation was designed to clear up any ambiguity about whether or not internet gambling is illegal.

Yesterday's announcement details those rules, calling on all banks, credit card companies and automated payment system companies to have 'policies and procedures that are reasonably designed to prevent payments being made to gambling businesses.

Unfortunately, the countdown is starting quicker than most online gambling sites anticipated. It's beginning to thicken...

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[ READER COMMENTS ]

1. 1

   Kevin said:

   The thing is, supposedly it is only credit cards and that ACH online check deposits and bankwires are not covered in this piece of legislation. I havent read the huge document, but was told so by somebody who had. I hope it's true!

   Posted at 09:16 PM, on October 4 2007

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