The implementation of the UIGEA began yesterday, as financial institutions are expected to inspect all transactions to ensure there are no payments being processed to or from online casinos. Defenders of the controversial law say the Internet gambling ban is necessary because the industry can't be effectively regulated, yet gaming experts point out that if technology is advanced to the point that transactions can be blocked, then regulation should be easy or easier.Banking representatives have said for years the UIGEA rules would encumber the system and present too strong a challenge to enforce. Still, anti-gambling leaders said the banks were capable of achieving the ban.
“We’ve become the de facto cops on the beat," said the director for public policy at the Massachusetts Bankers Association, Jon Skarin, to the Boston Herald. "Why are we the police officers for this type of activity?”
Still, Skarin acknowledged the banks had put in place systems to block gambling transactions, using credit card codes. Gaming sites have said for years they can employ such coding to effectively block fraud, identity theft, and underage participation, the very regulation that UIGEA proponents deny exists.
Further, online casinos would be willing and eager partners in the use of advanced technologies to regulate their industry and achieve the approval of watchful US lawmakers, whereas the banking industry participates only at the equivalent of gunpoint.
"It cannot be argued that it is feasible to examine transactions which are deliberately obfuscated by the operator and effectively screen online gambling payments, but not admit that cooperative online casinos can be efficiently regulated to prevent adolescent play and compulsive gambling," said OCA gaming analyst Sherman Bradley.
Published on June 2, 2010 by TomWeston
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