The Unlawful Internet Gambling Enforcement Act of 2006 prohibits gambling businesses form disbursing or accepting payments in connection with unlawful internet gambling. Under the Act, any person engaged in the business of betting or wagering (as defined in the statute” is prohibited from completing “restricted transactions”, or knowingly accepting payments in connection with the participation of another person in unlawful Internet gambling.
Providence Bank will not open accounts for any business involved in the type of activity. However, as required by law, we monitor all account activity, and will restrict any transactions connected with unlawful Internet gambling. If unlawful Internet Gambling activity is detected, the account may be restricted or closed.