UC GROUP LAUNCHES U.S. ONLINE GAMBLING AWARENESS INITIATIVE

25 May 2007

Safe and Secure Internet Gambling Initiative supports proposal to license and regulate online gambling as the best way to protect the player

The London-based UC Group payment services provider, in association with British accounting group Baker Tilly has launched its Safe and Secure Internet Gambling Initiative (see previous InfoPowa reports) across the United States. The initiative urges support for legislative attempts by Congressman Barney Frank to regulate and license online gambling in the United States as the optimum way to protect online players.

Spokesperson Jeffrey Sandman said: “Millions of Americans are currently gambling online in an unregulated environment without any consumer protections… Internet gambling is a matter of personal choice and many Americans see the current prohibition as an unnecessary intrusion into their private life.”

Ex IGC head Rick Smith is Head of Government Affairs, Policy and Regulation for the group.

A statement from the group says that Congressman Frank's Bill, which is being introduced to the House this week will provide safety, security and integrity for millions of consumers. It will create a practical and enforceable framework to license and regulate internet gambling in the United States, whilst offering the highest degree of consumer protection.

Kobus Paulsen, CEO of UC Group said: “It is clear that prohibition in the US isn’t working for anyone. Instead of leaving internet gambling unregulated, uncontrolled and underground, this legislation will create meaningful protection and safeguards for consumers throughout the USA. It will also ensure the integrity of internet gambling transactions.”

The proposed legislation will require proven security controls to block underage and compulsive gamblers from gambling online. It will seek to ensure that each financial transaction is safe, secure and protected from fraud and abuse, whilst delivering additional revenue opportunities for the US Government.

Through its internet payment services subsidiary, SecureTrading, UC Group provides integrated payment processing services and logistical support to online product and service providers.

“We are proud to be backing this Bill which will bring safety and security to this line of business, an objective which we have been committed to achieving for quite some time,” Paulsen concluded.

Online Casino News courtesy off InfoPowa