WASHINGTON — Legislation to ban credit card use and fund transfers for Internet gambling will finally become law.
The House approved language added to the conference report for the SAFE Port Act (H.R. 4954) similar to the Internet Gambling Prohibition and Enforcement Act (H.R. 4411). The port bill passed the House 409-2, the final step before the president's signature.
"This year Americans are projected to send more than $6 billion to unregulated, offshore online casinos, half the $12 billion that will be bet worldwide on the Internet. FBI and Justice Department experts have warned that Internet gambling sites are vulnerable to be used for money laundering, drug trafficking and even terrorist financing," former House Banking Committee Chairman Jim Leach (R-Iowa), who sponsored the bill, said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
