Banks cooperative On UK Gambling Ban
Thursday March 6 ,2014 : U.K. FINANCIAL INSTITUTIONS TO BACK UK GAMBLING RESTRICTIONS (Update)
The bankers turn out to be more cooperative than ISP firms in Britain.
Our readers will recall the very firm refusal by British ISP companies to cooperate in any attempt by the government to impose blocks on unlicensed internet gambling sites when its new point-of-consumption laws come into force at the end of the year.
It appears from reports this week that the country's financial institutions have no such scruples, and have voluntarily agreed to collaborate in disrupting financial transactions between punters and unlicensed operators chancing their arms in the UK market.
Whilst the politicians debating the Gambling (Licensing & Advertising) Bill in the Lords this week failed to secure approval for government interference in blocking financial transactions, the major card companies – notably Visa Europe, Mastercard and PayPal – came up with their own voluntary agreement to do so when the legalization comes into effect.