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Processors at Online Casinos Targeted

The online casinos and actually the overall internet gambling companies are in a tight situation with the U.S. officials. The U.S. federal government’s continuous measures to suppress the internet gambling industry are epic at this point and the government continues in attempts to fully discourage widespread participation in offshore gambling from online casino and poker enthusiasts. In an effort to do this, federal prosecutors are going after companies that process the financial transactions with offshore online casino sites and the US-based players. Forbes Business reported that a recent agreement was finally reached; the settlement amounted to a truly staggering $13 million, which was equivalent to the amount of money that the FBI seized from Allied Systems and Allied Wallets in June 2009. Ahmad Khawaja, owner of the two firms, agreed to just forfeit that agreed amount. This particular settlement puts an end to the issue that has lasted for the past year, but it still does not end the government’s continuing attacks on the rest of the internet gambling industry.

According to the government, the seized funds were allegedly used for the operating illegal online casinos and other gambling related businesses. Court documents reveal that the proceeds were traceable to PokerStars— the dominating figure in the US market and the largest online poker company in the world— and other offshore online casino and gambling companies. PokerStars, in a statement after the said settlement was reached, stated that it has already taken its own measures to ascertain the financial integrity of processors—in that these must properly reveal to financial institutions the nature of whatever businesses they operate.

According to Forbes Business, Pokerstars continues to uphold its stance that the company does not violate U.S. laws with its for-money poker play to US-based online casino and poker players; because its procedures comply with legal opinions from various law firms in the US.