UIGEA Notice to Members
Unlawful Internet Gambling Enforcement Act (UIGEA) Notice - Regulation GG
The Unlawful Internet Gambling Enforcement Act of 2006 (31 USC 5361-5366) prohibits any person engaged in the business of betting or wagering (as defined by the act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling.
Unlawful internet gambling means to place, receive, or otherwise knowingly transmit 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.
Unlawful Internet gambling transactions are prohibited from being processed through your accounts and your relationship with us. This includes transactions involving an ATM card, Debit card, Credit Card, ACH transfer, wire transfer, or bill payment.
It is Platinum Federal Credit Union’s policy to not open or maintain any account for commercial/business members held with the intent to conduct or engage in illegal Internet gambling activity. If the credit union discovers or determines that an existing commercial member transacts or engages in Internet gambling activity as defined by the UIGEA, the credit union reserves the right to restrict services or terminate the account relationship.