| Cardinal Bank |
| Internet Gambling |
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The Department of the Treasury and the Federal Reserve Board issued a joint final rule on December 18, 2008 to implement the Unlawful Internet Gambling Enforcement Act.
The Act prohibits any person engaged in the business of wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful gambling. The final rule requires a strengthened screening process at the time of account opening to deny commercial entities that may be acting as internet casinos access to the payments system.
The prohibition became effective on December 1, 2009. Click here for additional information
Internet Gambling & Your Bank insert.
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