New York state AG succeeds in bank shakedown?
BANKS AGREE TO BLOCK NET GAMBLING CREDIT CARD TRANSACTIONS Ten banks have reached agreement with N.Y. Attorney General Eliot Spitzer to begin blocking credit card transactions involving online gambling. The banks agreed to pay the Attorney General's office $335,000 to cover costs associated with an investigation into the activity. The Office said that the settlement is part of a trend in law enforcement to focus on intermediaries in combating illegal online activity. http://shorl.com/defrehasubrise [Stamford Advocate]
RE: New York state AG succeeds in bank shakedown?
Declan McCullagh[SMTP:[EMAIL PROTECTED]] BANKS AGREE TO BLOCK NET GAMBLING CREDIT CARD TRANSACTIONS Ten banks have reached agreement with N.Y. Attorney General Eliot Spitzer to begin blocking credit card transactions involving online gambling. The banks agreed to pay the Attorney General's office $335,000 to cover costs associated with an investigation into the activity. The Office said that the settlement is part of a trend in law enforcement to focus on intermediaries in combating illegal online activity. http://shorl.com/defrehasubrise [Stamford Advocate] This reminds me of a local shakedown. Like many states, MA has a serious budget shortfall. Last night on the news, Mitt Romney the (Republican) governor announced that he was thinking of legalizing casino gambling in MA, but promised not to do it iff the casinos in neighbouring states (mostly Connecticut) each paid MA $20M. At least one, (Foxwoods) has told him to pound sand. (annoyingly, I can't find an online cite) Peter Trei
New York state AG succeeds in bank shakedown?
On 13 Feb 2003 at 9:50, Declan McCullagh wrote: BANKS AGREE TO BLOCK NET GAMBLING CREDIT CARD TRANSACTIONS Ten banks have reached agreement with N.Y. Attorney General Eliot Spitzer to begin blocking credit card transactions involving online gambling. The banks agreed to pay the Attorney General's office $335,000 to cover costs associated with an investigation into the activity. The Office said that the settlement is part of a trend in law enforcement to focus on intermediaries in combating illegal online activity. http://shorl.com/defrehasubrise [Stamford Advocate] Excellent. The effect of this, and thousands of similar measures, is to make US based banking slow, unreliable, and expensive. If you want good banking services, look for a reasonably capitalist country that is as far from the US as possible. This measure will accellerate the adoption of GoldMoney, and expand banking in places resistant to US regulation, thus improving the liquidity of the out-of-the-US system.
