Citibank Freezes Online Gambling TransactionsPublished June 18, 2002 by OCR Editor
New York Attorney General Eliot Spitzer and Citibank publicized their joint decision to obstruct all online gambling transactions that use its credit cards.
On Friday, the New York Attorney General Eliot Spitzer and Citibank publicized their joint decision to obstruct all online gambling transactions that use its credit cards. The decision Is anticipated to considerably lower the number of illegal underage activity and likely gambling addictions. The new online gambling accord will be applied to outside of New York transactions as well. Mr. Spitzer said, "With this agreement, we will cut off an enormous line of credit that was a jackpot for illegal offshore casinos. "
Seeing that Citibank, known for being one of the nation's leading companies to distribute Credit Cards goes forward with the accord, Bank of America, MBNA and Chase Manhattan Bank will follow suit.
Moreover, in an attempt to Aid family members who have been confronted and harmed by gambling addictions, Citibank reining around 12% of the national credit card arena, has granted to shell out $400,000 to non-profit organizations that lend a hand to those suffering from gambling addictions. Maria Mendler, a spokeswoman for Citibank said, Citibank agreed to take these steps to help alleviate concerns raised by the attorney general about the impact that gambling on credit may have on New York residents."