- This topic is empty.
-
Posts
-
Guys I was told last night that additional arrests had been made in the financial sector and that this would impact ACH/ECH transfers. This may cease to be an option by Monday. :crazy: :crazy: :crazy:
Damned if I know HOW they’ll actually do that ???
:whoa:These transactions don’t (or didn’t) have any sort of industry indicator on them to identify a particular group. So there is no black/white indicator …
And to insert one all the way through the systems would take time … a lot of time … years.
(warning conspiracy theory starting … )Of course if you were serious about it (as a bank or the feds) … and it just had to be donevia any method …
Then you could hire a handful of gambling industry experts, a basic reporting programmer and quickly start identifying the payments by monitoring the accounts of “known” affiliates …
And then using the basic descriptions on the transactions as a filter … searching for others and backtracking.
The issue with this is that :
(1) It seems very much like prying into private citizens affairs
(2) It would hit a lot of false positives ..
(3) It’s almost cowboy like – and very much out of character for the financial services industry …I know that the US has launched lots of new laws (RICO and Patriot?) but this approach seems draconian in the extreme … would they dare ?!!!
:lookaroun
Keep us informed guys …
:whoa:TheGooner wrote:would they dare ?!!!
:lookaroun I think we all know the answer to that.
Quote:Damned if I know HOW they’ll actually do that ???You are WATCHING them do it. They do it by making the processors and companies drop the service. An arrest here and arrest there and the problem goes away. THE COMPANIES WITHDRAW. There is no need for massive intervention schemes or programming. THE COMPANIES ARE LEAVING.
When a banker is arrested the US banks themselves will magically stop anything remaining that was trickling in. I said this the other day when I was told “Oh doom and gloom, nothing is going to happen everything will be normal in a few days” Since then we saw Neteller withdraw from the US market, Citadel leave, Instadebit leave, eCheck leave and a few other minor players. The next wave will be on the banking side, other then Payspark and Click2Pay there arent many wallets left to destroy.
We are in for a headache of a week coming up.
I am getting the word out on prepaid credit cards and my players are using them! They have deposited at many casinos with them already…
From 1 player..deposit with prepaid cards and all these casinos take them…
The prive group
iNetBet
clubworld
vegas lucky
jackpot factory
Bellerock
intertops
grand monaco
casino shareThe players have to be given a method to play or they will just give up, I hope something comes fast:Ohno:
Now there is a good idea Bonustreak! This would be a excellent option for U.S players.
greek39
I agree. I’m starting to think that the prepaid credit/debit card idea is the way to go.
We should start a new thread to talk about this.
Updated: new thread is here: http://www.casinoaffiliateprograms.com/bb/showthread.php?p=107886#post107886
Professor wrote:You are WATCHING them do it. They do it by making the processors and companies drop the service. An arrest here and arrest there and the problem goes away. THE COMPANIES WITHDRAW. There is no need for massive intervention schemes or programming. THE COMPANIES ARE LEAVING.This is exactly right. Even if the transactions of these companies are not tagged it doesnt matter if they decide to withdraw all together. They do so because they do not want to find, unjustly or not, themselves and their employees in jail cell.
It’s really sick but they are ruling by fear just as they have for a very long time. USA is NOT the land of the free, its the land of the elite one sided rulers.
ACH stands for Automated Clearing House.
No-one is talking about dismantling ACH = American commerce would freeze without it. E-wallets are only a tiny part of this stream.
THere are literally 1000’s of banking institutions accepting millions of transactions into this system and it’s the life blood of electronic commerce and day to day business.
It’s a system by which customers enter transactions into the banking systems for things such as direct deposit of payroll, business to business payments, as well as eft-pos reconcilliations etc.
No-one can tell when a company deposits into this stream – as when a transaction goes into the mix there is no simple “source code” – or a numberic indicator of the merchant – hence my musings earlier.
For clarification – if a casino was paying people then a batch of transactions are entered – say 100 credits to 100 affiliates plus one debit to the casino account.Or another application would be a company paying 100 employees, or a shop paying 100 suppliers (etc).
The clearing house checks that the total VALUE of credits in this batch match the total of debits – and then release them into the system.
Once the transactions are released there is no way to identify the “source” other than any descriptors that are used in the “free text” – and these are the lines that typically end up on the customers statement.
AS I say – HOW ?!!!
:popcorn:I’ll certainly be watching with interest.
You’re right Gooner we have em right where we want them. No worries. They couldnt get legislation passed, or touch offshore companies or slow down the eWallets either. Im going back to sleep…
ATM/debit cards is a great idea for the players. Too bad it won’t work for affilates. Can you see a gaming company trying to put funds in each individual ATM/debit card?
Here’s how they crank up of pressure on banking:
http://business.timesonline.co.uk/article/0,,8209-2557716,00.html
Exceprts:
Quote:THE US Department of Justice has ordered the world’s biggest investment banks, accountants and law firms to hand over all e-mails, telephone records and papers connected with internet gaming firms as part of an investigation into illegal online gambling in America.HSBC, Dresdner Kleinwort, Credit Suisse and Deutsche Bank are known to be among the banks that have been issued with subpoenas — official requests for information — as part of a worldwide hunt to build a case against those who benefited from illegal online gambling.
You will definately want to read the whole article
ATM/debit cards is a great idea for the players. Too bad it won’t work for affilates. Can you see a gaming company trying to put funds in each individual ATM/debit card?
Just received an e-mail from cpays
I am contacting you since you are using the Cpays card as a payment option. We have received an urgent notification from Intercash Canada announcing the suspension of the service given to all card programs including the CPays card, due to MasterCard licensing and regulation.
So far Three Casino Programs have announced they would no longer be able to do ACH payments to US affiliates:
Referback
Trident
Casino PartnersMore to come???
Well I just switched roxy, rewards, brightshare, and others over to ACH so I sure hope I dont have to change again. I dont think there are any other options except for checks. Those are going to set off huge alarms. I thought ACH was very hard to trace and very safe gooner?
Say good bye to that 50,000+ a month over night. Guess we better get our resumes made up and prepare to take a job at mcdonalds. :dafingers
