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Online Gambling Ban Likely to be Overturned, Says Former IRS Special Agent
printThe federal ban on processing transactions tied to Internet gambling will likely be overturned at some point, but lawmakers have yet to address how to best mitigate related money laundering risks, according to James Dowling, president of Pasadena, CA-based consultancy Dowling Advisory Group. As it is, the Unlawful Gambling Enforcement Act (UIGEA), which mandates that Internet gambling transactions be blocked, unfairly asks financial institutions to become "the judge and jury" of gaming companies, said Dowling. And debate over whether the government can effectively blacklist certain gambling operations remains unresolved, he said. Dowling, who formerly worked as a special agent for...
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