Feeds

Walmart puts out for online gaming

Virtual benefits abound

Maximizing your infrastructure through virtualization

House of Cards The online payment processing industry took it in the chops again this week, as the Electronic Clearinghouse, Inc (ECHO) settled with the US government over allegations that it profited from online gaming transactions by supplying Neteller with payment processing services prior to the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) last October.

Of course, since the UIGEA won't take effect until June 2007, that would appear to be self-evident.

Nevertheless, the action is something of a letdown for the DOJ. ECHO noted that the only reason it settled was to benefit its own shareholders by sparing them the costs of expensive litigation. It established that the DOJ does indeed have the political leverage to extort money out of legitimate enterprises - a fact that most Reg readers are already well aware of.

The $2.3m settlement represents all the profits the company supposedly made off Neteller transactions prior to the date the UIGEA was signed into law. The company caught flak from the DOJ for not "winding down" its operations quickly enough after the legislation was passed - though, of course, the UIGEA still has not even gone into effect.

The main effect of the DOJ's actions was to scuttle a planned merger between ECHO and financial software powerhouse Intuit, which clearly did not want to buy into a potential lawsuit.

Online gamblers, however, are not dismayed, as American retail monster Walmart is providing a safe and secure alternative to shady payment processing options.

Moneygram is widely available at your local Walmart, and is currently accepted by Pokerstars.com, though it does require a very unWalmart-like hefty processing fee of $9.95 per transaction.

Nevertheless, for those who want to play, Walmart is clearly the convenient place to go. Thanks, Sam. ®

Burke Hansen, attorney at large, heads a San Francisco law office

Application security programs and practises

More from The Register

next story
UK government officially adopts Open Document Format
Microsoft insurgency fails, earns snarky remark from UK digital services head
Major problems beset UK ISP filth filters: But it's OK, nobody uses them
It's almost as though pr0n was actually rather popular
US Social Security 'wasted $300 million on an IT BOONDOGGLE'
Scrutiny committee bods probe derailed database project
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Arrr: Freetard-bothering Digital Economy Act tied up, thrown in the hold
Ministry of Fun confirms: Yes, we're busy doing nothing
Australia floats website blocks and ISP liability to stop copyright thieves
Big Content could get the right to order ISPs to stop traffic
Help yourself to anyone's photos FOR FREE, suggests UK.gov
Copyright law reforms will keep m'learned friends busy
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.