Regulation GG - Unlawful Internet Gambling Enforcement Act Notification
Required Disclosure Regarding Regulation GG:
Unlawful Internet Gambling Enforcement Act Notification
Pursuant to Federal Regulation GG, financial institutions are required to provide notification to all business clients to ensure compliance with the Unlawful Internet Gambling Enforcement Act. This is a general notification to all North Shore Bank business clients and does not reflect current activity on your account.
Regulation GG prohibits restricted transactions from being processed through any North Shore Bank account or relationship. A restricted transaction generally includes, but is not limited to, any transaction or transmittal of funds knowingly accepted by gambling businesses in connection with anyone participating in unlawful Internet gambling.
By definition, unlawful Internet gambling means to place, receive or otherwise knowingly transmit a bet or wager involving the Internet that is unlawful under any applicable Federal or State law.