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The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering
(as defined in the Act) from knowingly accepting payments in connection with the participation of another
person in unlawful internet gambling. The Dept of Treasury and the Federal Reserve Board have issued a joint
final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly
transmit a bet or wager by any means which involves the use, at least in part, of the internet where such
bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which
the bet or wager is initiated, received or otherwise made”.
As a customer of Waterford Bank, N.A., these restricted transactions are prohibited from being processed
through your account or banking relationship with us. If you do engage in an Internet gambling business and
open a new account with us, we will ask that you provide evidence of your legal capacity to do so.
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