Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 – Regulation GG
The UIGEA, signed into law in 2006, prohibits any person engaged in the business of wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. The Dept of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves under any applicable Federal or State or Tribal lands in which the bet or wager is initiated, received or otherwise made.”
As a customer of First Bank & Trust of Fullerton, these restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.
Please contact First Bank & Trust of Fullerton if you would like additional information on UIGEA or Regulation GG.