Banks in Costa Rica Change Transfer Policy
Online gambling is crucially dependant on electronic money transfers, as do any other service that uses the internet as its delivery platform. Internet gambling in the United States have virtually stopped as a direct result of the Unlawful Internet Gambling Enforcement Act which bans such transforms from taking place between banks, customers and online casino firms. News from Costa Rica informs that a local fraud might influence the way people are gambling over the internet. An $8 million scam that’s now being discussed in Costa Rica has caused one of the banks to announce restrictions on electronic transfers.
According to the statement made by Bano Nacional, customers will only be able to transfer up to $1,000 a day. If an account holder wants to transfer additional funds he will have to ask for the increase every time. Another change – one that will surely affect online gambling – is talking about allowing account holders to transfer money only to parties that are already on the holder’s favorite list. In order to appear on the list, a transfer has to be made to the party. This means that e-commerce is at great risk. If online casinos can’t collect money from their players, they won’t be able to offer gambling products through the web.
While this turn of events does not come as part of anti online casino actions, it will surely affect the industry in Costa Rica. Although the bank’s site doesn’t indicate any change in policy, there are rumors of rejected transfers. Hopefully, a way to resolve things will be found. If a fraud did take place, then added security is needed, but there is no need to limit the clients’ ability to pay the elements that they wish to pay. Currently there is no major change in the way people are gambling in Costa Rica.