In connection with the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) & implementing regulations (Regulation GG) issued by the Board of Governors of the Federal Reserve System & the United States Department of Treasury, certain transactions are prohibited within your account. Banesco is required to notify our commercial customers of this prohibition.
“Unlawful Internet Gambling” is defined in UIGEA as placing, receiving, or otherwise knowingly transmitting a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received, or otherwise made.
“Restricted Transactions” are defined in Regulation GG to be transactions in which funds are knowingly accepted by gambling businesses in connection with participation by others in unlawful Internet gambling. Restricted transactions are prohibited from being processed through this account or any other account you hold with Banesco. Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, debit card or credit card transactions, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful Internet gambling will generally be considered to be unlawful.
As a customer of Banesco USA bank, these restricted transactions are prohibited from being processed through your account or relationship with us.