Unlawful Internet Gambling Enforcement Act
Unlawful Internet Gambling Enforcement Act (UIGEA)
SELF-PACED ONLINE COURSE: ABA ELEARNING
This course is also available at discounted prices under an annual license. Call or email for details. This course is available to ABA Member banks at no cost under a license agreement.
Reviewed: July 2013
(Reviewed to meet current regulations; no changes were made.)
Course Description: The Unlawful Internet Gambling Enforcement Act (UIGEA) (Reg GG) focuses on denying commercial customers that operate online gambling entities access to bank accounts. The course concentrates on commercial account opening and the steps necessary to assess the risk of unlawful Internet gambling transactions being conducted through a commercial loan or deposit account. Other portions of the course outline requirements associated with blocking restricted transactions conducted with debit and credit cards, providing notice to commercial account holders, and crafting an action plan for banks that discover UIGEA violations. The law is implemented through Federal Reserve Regulation GG.
Audience: All Frontline Compliance employees who open commercial accounts (deposit or loan) or who answer customer questions concerning debit or credit card transactions.
Learning Objectives: After completing this course, students will be able to:
Describe key points of a bank’s policy related to new account screening for unlawful Internet gambling
Explain what should be included in a bank’s card transaction policy to block unlawful transactions made via credit and debit cards
Explain the methods used to communicate restricted transactions to customers under the commercial account policy
Describe options a bank may implement as part of a remedial action policy when unlawful transactions are discovered
Course Credits: ICB: 0.5 CFSSP, CRCM
The Nebraska Bankers Association is a Local ABA Training Provider.
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