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Relaxation of Online Gambling Restrictions Will Complicate Compliance, Say Attorneys
By Brian Monroe
printA U.S. Justice Department memorandum clearing the way for online gaming may exacerbate compliance woes for banks operating under a 2006 anti-gambling law, say attorneys and industry groups. The department said Friday that it had interpreted the 1961 Wire Act to bar only certain interstate sports betting, a prohibition that does not affect online poker sites or lotteries. The clarification comes as at least half a dozen states are mulling whether to allow online and brick-and-mortar gambling operations as a means to increase revenue. But while the Justice Department has made it clear that it's up to state lawmakers to...
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