UIGEA Deadline Is Approaching
17 November 2009
Looks like the time is coming for an impossible law to come into effect that will put terrible hardships on banks in this country! We are hoping it will get postponed, but time is getting short.
In a couple of weeks financial institutions will be obligated to abide by the UIGEA regulations. It appears unlikely that a motion by Barney Frank and over 50 co-sponsors to postpone mandatory compliance to UIGEA regulations for a year will pass the House, so banks are getting their ducks in a row and are preparing to offer due diligence as is required under the UIGEA.
Some bettors they have received a notice with their bank statements the last month or so relating to internet gambling. The wording is slightly different for each bank, but the points being are similar. The following was the exact wording on a statement from a larger Midwest bank. The name of the bank is being withheld so as not to promote them.
“As a (fill in the blank) customer, we’d like to inform you that in accordance with the requirements of the Unlawful Gambling Enforcement Act of 2006 and Regulation GG, certain transactions are prohibited from being processed through your account
Prohibited transactions include those in which a person accepts credit, funds, or other proceeds from another person in connection with unlawful internet gambling. If you have any questions or concerns regarding this regulation, please contact us.”
Read the full story here.
21 August 2007Short Extension Granted to USA in Online Gambling Case
According to our reliable sources, they tell us: In the US District Court of New Jersey, Trenton Division, papers were filed today to grant a motion on behalf of the US Department of Justice and the co-defendants, giving them a short period longer to respond to charges brought against them by the Interactive Media Entertainment and Gaming Association (iMEGA).Read full article
31 August 2007NEW Date Set for iMEGA versus Gonzales (UIGEA)
NEW Date Set for iMEGA versus Gonzales (UIGEA)Honorable Judge Mary L. cooper will hear oral arguments on TRO and Government dismissal motions.The hearing originally set for September 4th, has been moved to September 26th, in the U.S. District Court of New Jersey, Trenton Division. The hearing date was a mutual agreement by the plaintiff whom is iMEGA and the defendants, who are, Gonzales, the U.S. Department of Justice, the Federal Trade Commission and the Federal Reserve Board of Governors.Read full article
17 July 2006INTERNET GAMBLING BAN A BAD BET
Cincinnati.Com The Enquirer Editorials The U.S. House feels Americans need to be saved from a $12 billion-a-year growth industry – Internet gambling. By a lopsided 317-93 vote, members passed the Unlawful Internet Gambling Enforcement Act on Tuesday, but exempted state-run lotteries and online horse-race betting. Were the Senate to go along with it, the bill would make online sports betting, poker and other popular Internet casino games illegal.Read full article