Unlawful Internet Gambling Enforcement Act

Rule/Law:

Title 8 of Safe Port Act, Pub. L. 109-347, codified at 31 U.S.C. 5361 et seq.

This Act prohibits any person engaged in the business of betting, as defined, from knowingly accepting credit, electronic fund transfers, checks, or any other payment involving a financial institution to settle unlawful internet gambling debts. The Treasury Department and the Federal Reserve Board must develop jointly and prescribe regulations requiring payment systems to identify and block or otherwise prevent or prohibit the acceptance of payment for internet gambling transactions. The FTC enforces the Act and regulations with respect to payment systems and financial transaction providers not specifically assigned to other agencies under GLB or the Commodities Exchange Act.