Internet gambling regulations implemented

The U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System have issued regulations implementing the Unlawful Internet Gambling Enforcement Act requiring U.S. financial institutions and certain “participants in designated payment systems” to establish and implement policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit unlawful internet gambling transactions covered by this Act. Compliance by these participants is required immediately.

by Ty Hardison

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