Neteller and the Patriot Act

[PairTheBoard]

Neteller and the Patriot Act

I don't think this link has been posted here yet. I saw it in NVG. I thought this quote was a bit chilling:

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Suffice to say, the long reach of the Patriot Act, with its prohibition against the transmission of funds that are known to have been derived from a criminal offense or are intended to be used to promote or support unlawful activity, will be something that the company and its advisors will want to take on board, before finally making up their minds.

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PairTheBoard

[OasisG]

Um... I don't really know what this means... but I'm guess its ALL BAD.

[JPFisher55]

Neteller has been used by customers of online sports betting sites. Yet, the federal government has not attempted to apply these laws to Neteller. Why would they now?

[Ali shmali]

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Neteller has been used by customers of online sports betting sites. Yet, the federal government has not attempted to apply these laws to Neteller. Why would they now?

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Because in a few days/weeks, the GOV is going to have a comittee made solely for the purpose of devising ways to stop U.S. money from gettng transferred to gambling sites. This seems to have the same wording as the port bill, in that it only refers to activities that already have seperate statutes deeming them unlawful.

[JPFisher55]

Online sports betting sites have been ruled by Federal courts to violate the 1961 Wire Act. Yet, the federal government has not used these sections of the Patriot Act against Neteller who assist customers to transfer money to the sites. The new port law does not change this; it might just make that action more common.
I doubt that formation of a committee will make a difference. I think that the real explanation may be that the Patriot Act is intended to be used against terrorists and that some of these sections might not pass constitutional muster if applied against companies like Neteller.

[PairTheBoard]

I think the legal point brought in by the Patriot Act is the Extension of Jurisdiction.

From the Link:
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The Patriot Act extends the jurisdiction of the US courts over any person or organisation who commits a money laundering offence involving a financial transaction that occurs in whole or in part in the UntiedStates. By extension, in so far as every dollar transacation must involve a US bank somewhere along the chain, any transaction that involves dollars is subject to US anti-money laundering laws. Money laundering is taken to encompass any financial transaction which generates an asset or a value as the result of an illegal act.



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PairTheBoard

[demon102]

I use firepay myself can I assume that no matter what happens firepay and netteller are in the same boat? I have an account with click2pay as well which as far as I know only 1 poker site uses (planet poker a very small one) even though Im sure other sites use it Im thinking they could not be effected cuz they are more about online purchasing than online gaming. I dought this new bill will effect them and maybe every site that stays open to the US will start business with them.

[genesisgkh33]

We have many worries, but the US misusing the Patriot act to go after online gaming is NOT one of them. Many organizations are just waiting for any misuse of the patriot act. IMO, It will only be used to actually go after terrorists, or our government will find they don't have it anymore.

[PairTheBoard]

You may be right. otoh, did you know that The Department of Homeland Security has been involved in protecting us from online orders of pharmaceuticals from other countries?

PairTheBoard