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TREAS/DO

RIN: 1505-AB78

Publication ID: Fall 2008

Title: Prohibition on Funding of Unlawful Internet Gambling
Abstract: The Unlawful Internet Gambling Enforcement Act of 2006 (the Act) requires the Department of the Treasury and the Board of Governors of the Federal Reserve System (collectively, the Agencies), in consultation with the Attorney General, to promulgate regulations to implement applicable provisions of the Act. The Agencies published a proposed rule on October 4, 2007, and the public comment period closed on December 12, 2007. In accordance with the requirements of the Act, the final rule is expected to designate payment systems that could be used in connection with unlawful Internet gambling transactions restricted by the Act. The final rule will require participants in designated payment systems to establish policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling. As required by the Act, the final rule is expected to exempt certain participants in designated payment systems from the requirements to establish such policies and procedures if the Agencies believe it is not reasonably practical for those participants to identify and block, or otherwise prevent or prohibit, unlawful Internet gambling transactions restricted by the Act. Finally, the final rule will describe the types of policies and procedures that regulated participants in each type of designated payment system may adopt in order to comply with the Act and will include non-exclusive examples of policies and procedures that will be deemed to be reasonably designed to prevent or prohibit unlawful Internet gambling transactions restricted by the Act.
Agency: Department of the Treasury(TREAS)	Priority: Economically Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: Yes	Unfunded Mandates: No
CFR Citation: 31 CFR 132
Legal Authority: 31 USC 321 31 USC 5361 to 5367

Legal Deadline:

Action	Source	Description	Date
Final	Statutory		07/10/2007

Timetable:

Action	Date	FR Cite
NPRM	10/04/2007	72 FR 56680
NPRM Comment Period End	12/12/2007
Final Action	11/00/2008

Regulatory Flexibility Analysis Required: Undetermined	Government Levels Affected: None
Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Agency Contact: Steven D. Laughton Senior Counsel Department of the Treasury Departmental Offices Office of the Assistant General Counsel (Banking and Finance), 1500 Pennsylvania Avenue NW., Room 2027B, Washington, DC 20220 Phone:202 622-8413