Banks Move to Squelch Online Gambling: Why It Matters (July 2002)

July, 2002


The threat to a free market on the Internet no longer comes only from governmental interference. The financial community has decided to get in the game. Internet commerce depends upon credit card transactions for the vast majority of all payments for goods and services. Until recently, the financial institutions which facilitate these transactions took no interest, so to speak, in the nature of the purchases.