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WSJ: Banks Backlash Against Net Casino Crackdowns

     
4:32 pm on Aug 30, 2006 (gmt 0)

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WebmasterWorld Administrator brett_tabke is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month

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[online.wsj.com...]

A group representing 5,000 small banks is opposing a tool lawmakers hope to use to stop illegal online gambling, posing a challenge to what is widely seen as the government's best shot at cracking down on the activity.

At issue are the electronic transfers that many gamblers use to move money between their bank accounts and offshore casinos. Such transfers, which often go through a third-party payment company, are the lifeblood of the online gambling industry. (Another aspect of the legislation, which the banking group doesn't oppose, would formalize a ban on using credit cards to fund accounts. Many banks began voluntarily blocking such transactions five years ago, at the request of regulators.)

5:17 pm on Aug 30, 2006 (gmt 0)

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So much for this thread then:
[webmasterworld.com ]

Now where will I hide my money (that I haven't made yet)

5:17 pm on Aug 30, 2006 (gmt 0)

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So much wasted energy. God forbid politicians use anything resembling logic when they make decisions....
5:52 pm on Aug 30, 2006 (gmt 0)

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Now where will I hide my money (that I haven't made yet)

Paypal

6:35 pm on Aug 30, 2006 (gmt 0)

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Now where will I hide my money (that I haven't made yet)

Paypal

Probably a bad idea [webmasterworld.com]...

-b

5:59 am on Aug 31, 2006 (gmt 0)

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I don't understand this at all. You don't need to know what kind of business is at the end of the transfer, just if it is a casino.

When the payment is sent, run a quick check to see if the account number matches that of an off-shore casino, and it it does then reject it and flag future purchases on the card as potentially off-short casino purchases - thus making it easier to find the new casinos.

2:32 pm on Aug 31, 2006 (gmt 0)

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People will just create accounts in other countries (e.g non USA) and then use those accounts as a go between to deposit to online casinos.
11:23 am on Sept 1, 2006 (gmt 0)

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God forbid politicians use anything resembling logic when they make decisions....

after all "The Internet is Not a Truck...It's a Series of Tubes" -- Ted Stevens