Federal Regulation GG, also known as the Unlawful Internet Gambling Act of 2006, requires that Workers Credit Union provide you with the following notice concerning use of your business deposit account(s) with us.
Unlawful Internet Gambling – Federal Regulation GG prohibits the receipt and processing of any transactions related to unlawful internet gambling. 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 the use, at least in part, of the internet where such 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 generally include, but are not limited to, those in which credit, electronic fund transfers, checks or drafts are knowingly accepted by gambling businesses in connection with the participation of others in unlawful internet gambling.
If we become aware of, or detect, transactions related to unlawful internet gambling being processed through your account(s), we may block or refuse to accept these transactions, or require the closing of your account, at our option based solely on our judgment.
If you have any questions regarding this act, please give us a call at 978-345-1021.
AVP, Deposit Servicing Manager