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US financial services should focus on economy not online gambling
The Safe and Secure Internet Gambling Initiative (SSIGI) has stated that financial services in the US should be focussing their attention on the economy rather than policing online gambling.
It made the claim in reaction to the System Protection Act of 2008 which is being pushed by Barney Frank, reports Bluff Magazine.
The purpose of the legislation is to make create a formal process for the Department of the Treasury and Federal Reserve System to clarify what forms of online gambling are illegal.
Jeffrey Sandman, SSIGI spokesman, commented: "It is unfair to burden US financial service companies with the job of the internet gambling police at a time when their undivided attention ought to be on the economy."
He added that the reality of the situation is that it is highly unlikely that anyone will stop playing poker online and that the Unlawful Internet Gambling Enforcement Act (UIGEA) 2006 was "dangerous to the payments system".
The UIGEA did not make online poker illegal but prevented the country's financial institutions from funding this sort of online gambling.
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