The Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. The Dept. of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful Internet gambling means to "place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State in which the bet or wager is initiated, received or otherwise made."
As a customer of Sweet Water State Bank, these restricted transactions are prohibited from being processed through your account or banking relationship with us. Sweet Water State Bank does not bank with commercial entities that engage in unlawful Internet Gambling activities.