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Poker News | Gambling and the Law

More Neteller News – US money coming home? Canada out in the Cold

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Neteller has recently made two major announcements concerning its business plan in the post-UIGEA world. First, in a press release dated March 21, 2007 Neteller announced that it had signed agreements with the US Attorney's Office to develop a plan by which seized US player's funds would be returned. That plan is expected to be released within 75 days, although no timetable has been set for the return of the money.

"We continue to be committed to returning funds to our US customers and working with the US Attorney's Office," said Ron Martin, Group President and CEO. "Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process." Neteller states in this release that it continues to work with the USAO on its ongoing investigation into money laundering charges against two of the group's founders and possible UIGEA violations.

In less heartening news, five days later on March 26th Neteller announced a withdrawal from the Canadian gambling market, blocking transactions from Canadian customers to gambling sites in a similar reduction of services that American customers have recently experienced. InstaCASH transactions to Canada have also been blocked as of March 26th. No apparent pressure has been applied by Canadian lawmakers to Neteller, but this certainly seems to be a widening of the UIGEA ripples in the online gaming pond.

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