These regulations are independent of any other regulatory framework, such as the Bank Secrecy Act or consumer protection regulations. Section 5361, Findings and PurposeThe Act begins with Congress’s findings and purpose. Findings include a recommendation from the National Gambling Impact Study Commission. One of the controversial findings asserted in the opening of the bill is the assertion that Internet gambling is a growing problem for banks and credit card companies.
The opening section
The opening section of the act also states that “new mechanisms for enforcing gambling laws on the Internet are necessary,” especially for cross-border betting.