Does anyone know where I can find some good information on regulations regarding online gambling? Thanks!

Try these:

A-H
http://majorwager.com/frontline-570.html

Idaho to Michigan
http://majorwager.com/frontline-572.html

Minnesota to Oregon
http://majorwager.com/index.cfm?page=27&show_column=575

Pennsylvania to Wyoming
http://majorwager.com/index.cfm?page=27&show_column=578

Miscellaneous
http://www.ipmall.info/hosted_resources/crs/RS21984_041129.pdf

http://www.techlawjournal.com/topstories/2006/20060315.asp

Can anyone recap the status of online gambling at present?

Did the law pass that made online gambling illegal?

The SAFE Ports Act (which contains The Unlawful Internet Gambling Enforcement Act of 2006) was signed into law in October 2006.

So it came under another bill and was then moved to this one and passed into law.
What is the status for banks and monitoring?
Are we supposed to be stopping these?
Do we contact the customers that have gambling activity?

There is no regulatory requirement or guidance at the moment. You are on your own...

What is everyone doing with this? News?

My understanding is the law does not go into effect until the end of 2009 - so I am waiting to see what happens between now and then.

When I surf my TV stations and see offshore gambling sites being advertised on US stations, - it does not make the topic urgent in my book!

Here's my advice. Find your core processor's report that identifies international debit card transactions. Look at this daily report and see if any are coming from known gambling websites, like PSTARS, Lasvegasusa gambling, etc. If you are getting them, talk to your service provider as they can block gambling websites from getting approval or block the merchant code, or country.

Send the customer a letter as VISA does not allow illegal activity with their cards and since this is illegal, you as the bank are violating Visa regulations. If not already, put in your EFT disclosure that your debit cards can't be used for illegal activity, including online gambling. Other than that, I don't know what else you can do, maybe look at International wires going out to known gambling companies.

Is there a difference between online gambling and online POKER? I have been researching this and see so much conflicting information. And what if the activity isn't via VISA? How about a busines customer that offers a tutorial service to teach others poker, as well as software or marketing to offshore gaming sites?

I would appreciate any insight anyone has....

Regulation GG/ Unlawful Internet Gambling Act of 2006 went into effect January 19th, 2009 with a mandatory compliance date of December 1st, 2009. BOL had a webinar in December that went through all the changes and expectations. I am sure the recorded webinar is available for purchase.

Unfortunately the one thing the act/regulation do not do is define what is considered legal and illegal, we have to figure that out on our own. With that said though, the regulation does outline due diligence steps to take to verify that the entity is legal or illegal.

In my opinion, you should check out the webinar for more information... but the law is currently in effect and requires banks to develop policies and procedures to ensure compliance.