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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology US delays crackdown on Internet gambling AFP - Saturday, November 28 Send IM Story Print The US Treasury Department and Federal Reserve Board delayed for six months on Friday the enforcement of new rules designed to crack down on Internet gambling. Slideshow: Full Photo Coverage: Internet Portals & Search Engines WASHINGTON (AFP) - – The US Treasury Department and Federal Reserve Board delayed for six months on Friday the enforcement of new rules designed to crack down on Internet gambling. In a joint statement, the Treasury Department and Federal Reserve said US financial institutions were being given until June 1, 2010 to be in compliance with the Unlawful Internet Gambling Enforcement Act. The act, which would ban US banks, credit card and financial companies from handling unlawful Internet gambling bets, had been scheduled to take effect on December 1. Passed by the then-Republican controlled US Congress in 2006, the act has been the target of criticism from financial institutions and others that it would be an enforcement nightmare. It prohibits financial institutions from knowingly accepting payments for online gambling made through credit cards, electronic funds transfers, and checks. It was aimed at putting teeth into a de facto ban on US residents placing online wagers in locations such as Britain, Canada, Antigua and Gibraltar. The US ban on Internet gambling has been challenged as an unfair trade restriction at the World Trade Organization and a US congressman is seeking to overturn the 2006 act with legislation that would allow online gambling. Recommend Send IM Story Print Related Articles Black Friday shoppers tweet, friend and clip Reuters - Saturday, November 28 French minister wants Europe to take on Google Reuters - Saturday, November 28 Hong Kong police probe second Facebook suicide group AFP - Saturday, November 28 Cellphone powers back pain chip in Taiwan AFP - Saturday, November 28 Activision says "Call of Duty" series tops $3 billion Reuters - Saturday, November 28 News Search Top Stories US Fed chief 'concerned' by regulatory proposals Wall Street braces for Dubai debt fallout, jobs data Gatecrashers met Obama, Secret Service 'embarrassed' Space shuttle Atlantis lands back on Earth Victory for Putin as France signs gas pipeline deal More Top Stories » Related Full Coverage Internet Portals & Search EnginesLatest development in the online world All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Investors dump stocks over Dubai scare Dubai debt move 'carefully planned': top official Dubai debt fears hit world stock markets Gatecrashers met Obama, Secret Service 'embarrassed' Thyssenkrupp to axe 20,000 jobs More Most Viewed » Alcohol helps cut heart disease risk for men: study Mankind using Earth's resources at alarming rate Gatecrashers met Obama, Secret Service 'embarrassed' Investors dump stocks over Dubai scare More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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