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Internet gambling vs the credit card |
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maandag, 04 februari 2008 |
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Dutch Minister of Justice Hirsch Ballin announced this week that banks and credit card companies will be punished if they continue to provide transactions from foreign gambling sites related to the Dutch gambling market. According to Hirsch Ballin this is contrary to the Dutch law on gambling. He will soon distribute a list of companies in which Dutch financial institutions are no longer allowed to do business with. This approach has been previously chosen to tackle terrorist financing and is hardly working.
Internet Gambling is prohibited in the Netherlands. The Dutch law on gambling states that only a few organizations, such as Holland Casino and the Staatsloterijen may offer gambling. Meanwhile, there are an estimated nearly half million Dutch people who have a gambling account on the Internet. Minister Hirsch Ballin wants to tackle the internet gambling by implementing sanctions to the financial institutions that provide in the payments related to this form of gambling. By this measure he wants to enforce that banks and credit card companies using blacklists to see which companies are illegal and stop the transactions of these companies by blocking their funds.
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