US Banks and Card Issuers Break The Law
29th August, 2007
The new findings were released in the report by the US Watchdog after the 10-months investigation into the “Involvement of US Banks and Major US Credit Card Issuers in internet Gambling”. It turns out that some organizations are not following the guidelines of the Unlawful Internet Gambling Enforcement Act (UIGEA). The Act was introduced to the US in early October 2006. It turns out that despite the fact that US banks and credit/debit card issuers are prohibited to allow money transfers to and from online gambling sites that are located off-shore, some of the Americas most productive banks and card issuers have never thought of stopping the funds towards off-shore online casino activities. This is clearly breaching the new and numerously criticized gambling law introduced in US a year ago already. The Watchdog had to use the services of 4 major online casinos (UK-based, South African and 2 Antigua-based casinos), which were involved in the investigation since November 06. All 4 of them were made to breach the law (UIGEA), to find out which banks and card issuers would send US custom and payments to them.
