No Online Gambling Transactions

Wed, 20 May 2009 11:55
Online gambling is reaching the height of its popularity, and when more countries than ever are legalizing Internet gambling, one bank is walking away from the action. One of the biggest banks in the world, Royal Bank of Scotland, is closing their doors to the online gaming industry. The gaming operators have been given the choice to stay with RBS, but the gambling transactions will no longer be processed. That leaves the companies with the decision to use two separate banks or to switch banks altogether. The Swiss government has been pushing banks to stop processing gambling transactions from Swiss residents. RBS has recently announced the merger of their business with ABN AMRO, a banking group in the Netherlands. At the end of the day, what the Swiss and Dutch governments are doing is trying to protect their gambling monopolies. Royal Bank of Scotland has recommended to its online gambling clients that they find another bank to service transactions from the Netherlands and Switzerland. Switzerland and the Netherlands undertook recent initiatives aimed at reinforcing their protectionist position and opposition to the provision of services by EU-licensed gambling operators across borders within the European Economic Area. Regards ixgames

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