Online Gamblers Receive A Scare From BankAtlantic System Glitch

BankAtlantic's customer service personnel had an overly busy Monday. The financial institution launched a new online banking system over the weekend that went live on Monday. Many account holders, however, had difficulty logging into their system.

For online gamblers, it was a scary morning. The Unlawful Internet Gambling Enforcement Act went into effect on June 1st, and the law placed the burden of stopping online gambling transactions on financial institutions.

"When I woke up and couldn't get into my bank account, I thought maybe the bank had frozen my account because of my online poker transactions," said one online gambler who wished to remain anonymous. "Later in the morning, though, when I got through to customer service, I realized that it was a glitch that was affecting many customers."

BankAtlantic representatives quickly attempted damage control, claiming that the technicians were working diligently to fix the glitch in the new system. The representative also encouraged customers to stay calm and try again later to log-in.

"We're very concerned. We want this resolved as quickly as we can," said COO Lloyd DeVeaux, as reported by the South Florida Sun-Sentinel. "Once we get this resolved, we're sure customers will be happy with all the tools available in the new online system."

The system changes for BankAtlantic's online site appear to have nothing to do with the UIGEA. Although the government has placed the burden of the law on the financial institutions, many have argued that the banks do not have the programs necessary to block the transactions.

While some of the financial institutions have vowed to do their best to uphold the law, the logistics are a nightmare. Representatives of Wells Fargo and other banks told Congress last year that they did not have resources to block online gambling transactions, but that did not sway lawmakers to stop the UIGEA from taking effect.

Representative Barney Frank has proposed legislation that would overturn the UIGEA and set up a regulated system in the US for Internet gambling. Rep. Frank is expected to push his legislation either later this year or shortly after the November elections.

June 14, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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