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#Title / AbstractDate
11882 - The Prosecution of Offshore Internet Sports Book Companies in the United States Federal Courts
Although gambling on sporting events is, in most cases, prohibited under federal and state law, there has been an exponential growth in the use of the Internet for gambling purposes. This growth has been accompanied by a corresponding multiplication of online gambling websites, which are often set up offshore. In spite of the fact that these sites offer privacy and anonymity to both the owners and the customers, online sports booking is prosecuted and punished for violation of the Wire Act of 1961.

The following questions have been addressed in this article:

How is gambling regulated in the U.S.?
Are there any other laws that apply to online gambling?
Are there any examples of illegal gambling cases?
What are some common characteristics of these cases?
How do these Cases Affect Companies that Operate offshore Internet gambling sites?

IBLS Editorial Board
Staff Attorney

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1/19/2009 9:07:21 AM
21770 - Offshore Banking And Confidentiality
Offshore tax havens offer an adequate level of confidentiality, but e-business entrepreneurs should be aware that confidentiality does not equal absolute secrecy. Offshore jurisdictions’ confidentiality has been severely curtailed in for various reasons, including threats of global terrorism and money laundering. It has now become impossible to avoid the risk of potential disclosure when opening an offshore bank account.

The following questions have been addressed in this article:

How do the FATF and the OECD influence offshore banking?
What are “Know Your Customers” actions?
What is the Patriot Act and what influence does it have on offshore banking confidentiality?
What other entities impact offshore banking confidentiality?

IBLS Editorial Board
Staff Attorney

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8/22/2006 12:03:03 PM
36 - Offshore Internet Sports Book Company Executive Convicted In U.s. Federal Court For Wire Act Violations Under 18 Usc 1284
An executive for World Sports Exchange, an offshore Internet sports book site, was convicted of violating the Wire Act of 1961 in a U. S. District Court in August, 2000. World Sports Exchange is one of many Internet gambling sites located in Antigua, an island in the eastern Caribbean.

The following questions have been addressed in this article:

What is the significance of this case to companies operating or planning to operate offshore Internet gambling sites?

IBLS Editorial Board
Staff Attorney

View details...

12/3/2004 5:56:51 PM
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