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| Unlawful Internet Gambling Enforcement Act (UIGEA) |
NOTICE EFFECTIVE JUNE 1, 2010
The Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful Internet gambling.
As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made”.
Federal Regulation GG, which implements this Act, requires the Bank to make the following notification:
Transactions restricted under Regulation GG generally include, but are not limited to, those in which credit, electronic fund transfers, checks or drafts are knowingly accepted by gambling businesses in connection with the participation of others in unlawful Internet gambling.
Such transactions are prohibited from being processed through your account or banking relationship with the Bank.
If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.
Please contact your branch if you would like additional information on UIGEA or Regulation GG.
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