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Paulson & Bernanke crackin down on internet gambling - no more poker for you!

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riker

User ID: 505009
11/12/2008 3:27 PM

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Paulson & Bernanke crackin down on internet gambling - no more poker for you!

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Agencies Issue Final Rule to Implement Unlawful
Internet Gambling Enforcement Act

Washington -

The Department of the Treasury and the Federal Reserve Board today announced the release of a joint final rule to implement the Unlawful Internet Gambling Enforcement Act of 2006. The Act prohibits gambling businesses from knowingly accepting payments in connection with unlawful Internet gambling, including payments made through credit cards, electronic funds transfers, and checks.
The Board and the Treasury are required by the Act to develop a joint rule in consultation with the Department of Justice. The final rule requires U.S. financial firms that participate in designated payment systems to establish and implement policies and procedures that are reasonably designed to prevent payments to gambling businesses in connection with unlawful Internet gambling. The rule provides non-exclusive examples of such policies and procedures and sets out the regulatory enforcement framework. For purposes of the rule, unlawful Internet gambling generally would cover the making of a bet or wager that involves use of the Internet and that is unlawful under any applicable federal or state law in the jurisdiction where the bet or wager is initiated, received, or otherwise made.
Compliance with the rule is required by December 1, 2009.

[link to www.treas.gov]

Per ardua ad astra
----------------------------
There was a Great Forgetting, but it is time for a Great Remembering.
[link to www.scribd.com]

Philly Girl
User ID: 541429
11/12/2008 4:52 PM

Re: Paulson & Bernanke crackin down on internet gambling - no more poker for you!

Quote

They cracked down a long time ago. I was in the midst of getting my $1500 winnings from my online casino at the time (they were always great about paying out - and doing so in increments of less than $400 so it wouldn't come through as one big win) - when the Feds scooped in and took everything, I was sent a letter that said I would receive my winnings once the Gov sorted things out - that almost 2 years ago and I never saw a dime of that last win - not holding my breath either.

riker

User ID: 504724
11/12/2008 9:05 PM

Re: Paulson & Bernanke crackin down on internet gambling - no more poker for you!	Quote
Damn that blows! Per ardua ad astra ---------------------------- There was a Great Forgetting, but it is time for a Great Remembering. [link to www.scribd.com]

Anonymous Coward
User ID: 548795
11/12/2008 10:08 PM

Re: Paulson & Bernanke crackin down on internet gambling - no more poker for you!	Quote
It has to go. Its direct competition to Wall Street gambling.

Anonymous Coward
User ID: 516120
11/12/2008 11:13 PM

Re: Paulson & Bernanke crackin down on internet gambling - no more poker for you!	Quote
Funny, why doesn't anyone crack down on those fucking thieves?

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