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Home > News & Events > Press Releases

Joint Press Release
October 01, 2007

Agencies Propose Joint Rule to Implement
Unlawful Internet Gambling Enforcement Act
Board of Governors of the Federal Reserve System
Department of the Treasury
For immediate release
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The Department of the Treasury (Treasury) and the Board of Governors
of the Federal Reserve System (Board) on Monday announced the
release of a joint proposed rule to implement the Unlawful Internet
Gambling Enforcement Act (the Act). The Act prohibits gambling
businesses from accepting payments in connection with unlawful
Internet gambling, including payments made through credit cards,
electronic funds transfers, and checks.
The proposed rule would require U.S. financial firms that participate in
designated payment systems to have policies and procedures that are
reasonably designed to prevent payments being made to gambling
businesses in connection with unlawful Internet gambling. The proposed
rule would provide examples of such policies and procedures. For
purposes of the proposed rule, unlawful Internet gambling generally
would cover the making of a bet or wager that involves use of the
Internet and that is unlawful under any applicable federal or state law in
the jurisdiction where the bet or wager is made.
The Board and Treasury are required by the Act to develop jointly the
proposed rule in consultation with the Department of Justice. Comments
on the proposed rule are requested by December 12, 2007. The

agencies request comment on all aspects of the proposed rule. The
Federal Register notice is attached.
Federal Register Notice 132 KB PDF | TEXT
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Media Contacts:
Federal Reserve
Board
Department of the
Treasury

Susan Stawick
Jennifer
Zuccarelli

202-4522955
202-6228657

Last Update: October 01, 2007

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