electronic fund transfer
electronic fund transfer may be initiated" and international payment networks. "Interactive computer service" includes Internet service providers. "Restricted transaction" means any transmittal of money involved with unlawful Internet gambling. "Unlawful Internet gambling" is defined as betting, receiving, or transmitting a bet that is illegal under federal, state, or tribal law. The Act says to ignore the intermediary computers and look to the place where the bet is made or received. To force casinos to report large cash transactions, federal law was changed to define "financial institution" as including large gambling businesses. All other definitions are standard. Section 5363, Money TransfersThis section covers money transfers. The bill states "[n]o person engaged in the business of betting or
wagering may knowingly accept" any money transfers in any way from a person participating in unlawful Internet gambling. This includes credit cards, electronic fund transfers, and even paper checks. But the restriction on transfers is limited to Internet gambling businesses, not mere players. It also would not cover payment processors or ISPs, even under a theory of aiding and abetting.