The growth of Internet betting and gambling sites and the credit card Essay

The growth of earnings betting and gambol sites and the credence card companies response - Essay ExampleFurther, law enforcement agencies state that Internet sport is sometimes used for money laundering (Hugel & Kelly 2002 57). However, former(a)s consider this risk as trivial concern. The jurisdictional and anonymity concerns characteristic of Internet gambling make online gambling a potentially strong means for money launderers. The small number of prosecuted instances of money laundering linked to Internet gambling is credited to oversight and a lack of solid parameters (Hugel & Kelly 2002 58). Still, officials form the gaming and credit card industries and regulatory agencies do not consider that Internet gambling was any more endangered to money laundering than other forms of electronic trade (Hugel & Kelly 2002 58).The main objective of this review is to acquire a better understanding on the different policies and procedures of the credit card industry on Internet gambling . The review is also aimed at obtaining a broader knowledge on the strengths and weaknesses of these policies, and perhaps to formulate any potential recommendations that ar possible under the Constitution. To achieve this, a review on use of the U.S. payments method --- particularly credit cards, and on the ongoing debate on Internet gambling should be made. The key points are 1) to study the legal structure for Internet gambling activities, mainly in the U.S., but also in other countries 2) to explain the range and characteristic of the regulations and measures the credit card industry has put into practice to prohibit the use of credit cards as a rule of payment for Internet gambling and 3) to acquire opinions on Internet gamblings susceptibility to money laundering.Documentation on Internet gambling policies and procedures whitethorn be requested from industry representatives however, some might be disinclined to supply written documentation due to concerns about the confident iality of propriety regulations. This is why conducting interviews is