New UIGEA Law will Cost US Banks, not Internet Poker Players or Poker Rooms

American poker players received a new reminder that the Unlawful Internet Gaming Enforcement Act [UIGEA] Deadline on June 1st was coming. A few days ago, US players who were still playing online poker on the MicroGaming network were privy to emails like the following:

“Unfortunately due to circumstances beyond our control, as of 1 June 2010, PokerTime will no longer be able to take bets from players residing in the United States.

“If you currently have a balance in your account you will need to cash-in prior to 31 May 2010 as PokerTime will not be able to process cash-ins after this date.”


eCredit Daily: Card Networks Must Now Detect Betting

Federal law went into effect on June 1, 2010 to hinder online gambling activity in the United States. Instead of seeking the websites and players who participate in the now illicit activity, the Fed is going after the banks who allow money to be transferred to the gambling websites.

Beginning June 1, credit and debit card processors must have “reasonably designed policies and procedures” in place to detect if U.S. transactions are tied to bets placed with Internet gambling sites, according to a finalized rule by the Federal Reserve.

Missouri Man The Latest To Be Charged Under UIGEA

A 51-year-old Missouri man has been charged with participating in the conduct of a gambling business and conspiracy to launder the proceeds of a gambling business by the U.S. District Court of Maryland.

Kenneth Wienski of O’Fallon, Mo., was charged under the Unlawful Internet Gambling Enforcement Act (UIGEA) for transferring money to and from Internet gambling operators to fund player accounts.