Uigea
Posted : admin On 3/27/2022
Uigeadail
Pub. L. No. 109–347, 120 Stat. 1952 (2006), codified in relevant part at 31 U.S.C. §§ 5361- 5367
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.
Uigea Regulation Gg
The Unlawful Internet Gambling Enforcement Act (“UIGEA”) prohibits any person engaged in the business of betting or wagering from knowingly accepting payments in connection with the participation of another person in unlawful Internet gambling. Such transactions are referred to as “restricted transactions.”. Unlawful Internet Gambling Enforcement Act (UIGEA) and Regulation GG Policy. It is Streator Onized Credit Union’s policy to comply with Regulation GG, as mandated by the Unlawful Internet Gambling Enforcement Act (UIGEA) and enforced by the Federal Trade Commission.