Posted By: manimal
Reg. GG and Relying on Operators' Policies - 04/22/10 04:45 PM
I am confused about this section of Reg. GG:
(c) For purposes of paragraph (b)(2) in this section, a participant in a designated payment system may rely on a written statement or notice by the operator of that designated payment system to its participants that states that the operator has designed or structured the system's policies and procedures for identifying and blocking or otherwise preventing or prohibiting restricted transactions to comply with the requirements of this part...
We have a processor that acts as the middle man between us and Mastercard. The processor has a product that blocks internet gambling transactions. Should we be getting statements from the processor, Mastercard, or both? Thanks in advance for any advice you can give...
(c) For purposes of paragraph (b)(2) in this section, a participant in a designated payment system may rely on a written statement or notice by the operator of that designated payment system to its participants that states that the operator has designed or structured the system's policies and procedures for identifying and blocking or otherwise preventing or prohibiting restricted transactions to comply with the requirements of this part...
We have a processor that acts as the middle man between us and Mastercard. The processor has a product that blocks internet gambling transactions. Should we be getting statements from the processor, Mastercard, or both? Thanks in advance for any advice you can give...