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US Government Continues to Seize Online Gambling Funds

The recent spate of seizures by the US government on bank accounts thought to be used for illegal online gambling has intensified in the past week with the news that six fresh accounts have been frozen.

The government began cracking down on unauthorised internet gambling a couple of months ago after seizing accounts holding funds that were being used to pay out US online customers. However, this it would seem was just the beginning and more accounts continue to be frozen as the clamp-down increases.

The latest group of seizures came from the Wachovia Bank, Bank of America, First Premier Bank and Interstate Net Bank, who all had accounts suspected of money-laundering frozen pending a full government investigation. Clearly, the persistence of the government in their crackdown indicates that this is not something that we will be seeing the last of any time soon – or at least not until clearer laws have been defined.

The government are currently operating under the Unlawful Internet Gaming Enforcement Act passed in 2006 – which attempted to outlaw internet gambling – but many have criticised the current policy for being too vague and easily open to exploitation by both sides. However, with pressure mounting for a reform on internet gambling laws, online companies and politicians alike will be hoping that this climate of uncertainty will end when the UIGEA is reviewed in Congress.
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