Monday, October 09, 2006

US law against use of credit-card for gambling

The Guardian placed a very nice article that outlined the paradoxal effects of the recent US legislation that prohibits Internet users/credit-card users to use their credit-card in certain domains (gambling etc).

Essentially the consequence might be that a whole bus-load of US customers will revert to less legal solutions in order to continue to do what they did. In essence the US Bill thus leads to a customer base seeking for alternative solutions. Those solutions will all be examples of the money laundering procedure (placement, layering and integration). And once the customers get to know the principles of money laundering, why not use it for other purposes (tax evasion) as well?

'Strange guys, those Romans....' as Obelix would put it.