House Bill to Crack Down on Offshore Online Gambling Companies Banking
A House panel has approved legislation to toughen laws criminalizing Internet gambling, a preliminary step that may lead to enactment by Congress. A Judiciary subcommittee voted unanimously Wednesday to endorse the Internet Gambling Prohibition Act, sponsored by two Virginia representatives, Bob Goodlatte, a Republican, and Rick Boucher, a Democrat. Bush administration officials in the Justice Department support the proposal.
Online gambling's legal status in the United States is unclear under present law. Gambling on the Internet has become an extremely lucrative business, Goodlatte said. These activities suck billions of dollars per year out of the U.S. economy, serve as a vehicle for money laundering, undermine families, and threaten the ability of states to enact and enforce their own laws.The measure would force U.S. financial institutions to cooperate with federal law enforcement authorities in shutting down illegal gambling sites based outside the United States. Rep. Bobby Scott, a Virginia Democrat, said the measure does not go far enough in prohibiting online gaming because it would not bar individuals from gambling online.The bill is focused on unlicensed, unregulated offshore Internet gaming organizations, Frank Fahrenkopf, president of the American Gaming Association , said through a spokeswoman. The association, the Washington lobbying arm for Las Vegas-based casinos, is neutral on Goodlatte's measure, spokeswoman Holly Thompson said.
May 6, 2006
Posted By Bob Hartman
Staff Editor, CasinoGamblingWeb.com
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