The implementation of the UIGEA began yesterday, as financial institutions are expected to examine all transactions to make sure there aren't any payments being processed to or from online casinos. Defenders of the controversial law say the web gambling ban is critical since the industry cannot be effectively regulated, yet gaming experts indicate that if technology is advanced to the purpose that transactions will also be blocked, then regulation have to be easy or easier.Banking representatives have said for years the UIGEA rules would encumber the system and present too strong a challenge to enforce. Still, anti-gambling leaders said the banks were in a position to achieving the ban.
“We’ve become the de facto cops at the beat," said the director for public policy on the Massachusetts Bankers Association, Jon Skarin, to the Boston Herald. "Why are we the law enforcement officials for this kind of activity?”
Still, Skarin acknowledged the banks had installed place systems to dam gambling transactions, using bank card codes. Gaming sites have said for years they are able to employ such coding to effectively block fraud, identity theft, and underage participation, the very regulation that UIGEA proponents deny exists.
Further, online casinos can be willing and eager partners within the use of advanced technologies to control their industry and attain the approval of watchful US lawmakers, whereas the banking industry participates only on the equivalent of gunpoint.
"It can't be argued that it's feasible to inspect transactions which can be deliberately obfuscated by the operator and effectively screen online gambling payments, but not admit that cooperative online casinos may also be efficiently regulated to stop adolescent play and compulsive gambling," said OCA gaming analyst Sherman Bradley.
Published on June 2, 2010 by TomWeston
Read More... [Source: UIGEA News]
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