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Statement by Sue Schneider - Leach Bill - Oct 1, 2002 |
Statement by Sue Schneider - Leach Bill - Oct 1, 2002
Sue Schneider is the CEO/President of River City Group in St. Louis, Mo. The company publishes a subscription-based electronic magazine, Interactive Gaming News (www.igamingnews.com) as well syndicated research such as
the Wagering on the Internet report and Gambler Monitor. It offers a wide range of industry-related services such as market research, an international Summit, desktop conferences, executive placement and brokerage services. She wrote a monthly column on interactive gambling for International Gaming and Wagering Business (IGWB) magazine for several years and now writes for Global Gaming Business magazine. She has been a contributing writer for each edition of the Internet Gambling Report published by Trace Publications and her company publishes that book. She is a frequent speaker at international gaming conferences and has testified to the US House of Representatives as well as the National Gambling Impact Study Commission in that country.
For Immediate Release:
STATEMENT BY SUE SCHNEIDER, CHAIRMAN, INTERACTIVE GAMING COUNCIL (IGC)
On House Passage of the Unlawful Internet Gambling Funding Act
“The membership of the Interactive Gaming Council is naturally disappointed that the House of Representatives has chosen to pass H.R. 556. As has been the case with previous legislation in this area, a substantial misunderstanding of Internet gaming and of the Internet itself drives the bill.
“We take particular exception to the assertion that there is a link between Internet gaming and terrorism. Notwithstanding the reckless statements some have made, there has never even been a credible allegation that terrorists have used Internet gaming for money laundering. Internet gaming involves credit card transactions with a clear record of every wager. Money laundering is extremely difficult in a situation where every electronic transaction is recorded. Internet gaming is no different from any other form of e-commerce with respect to money laundering; perhaps the only difference is that our industry is subject to greater law enforcement scrutiny.
“It bears mentioning that if the Leach bill were to become law, it would most likely result in the development of settlement solutions that banks cannot recognize and block – truly blind e-cash. This does not exist today because there is no market for it. However, it is safe to say that, if the Leach bill becomes law, some portion of the 4.7 million Americans who like to wager on-line would find seek alternative ways to bet, and some of these new settlement mechanisms would undoubtedly have unintended consequences.
“We take seriously the concerns expressed by members of Congress about the problem of minors gambling, and our members undertake steps to prevent this. However, protection of children would be better accomplished through a robust program of licensing and regulation. The IGC will continue to accomplish as much as industry self-regulation can to prevent money-laundering, underage gambling, and other social goals; but we again call on legislators to recognize that governmental regulation, and not prohibition, is the means to accomplish that.
Time Magazine recently published its list of the 100 Worst Ideas of the 20th Century – unsurprisingly, alcohol prohibition was selected as single dumbest idea. George Santayana warned us that those who do not learn from history are doomed to repeat it. We can only hope that the prohibitionists in Congress find themselves reading about the 1920’s sometime soon.”
About the IGC With more than 70 members, the IGC is the leading trade association for the international interactive gambling industry. Its members operate or supply services to most of the reputable interactive gambling sites on the World Wide Web. To help parents protect their children, IGC members are encouraged to participate in the self-labeling system of the Internet Content Rating Association. The IGC has developed a Code of Conduct for its members, and a program called Helping Hand to assist problem gamblers.
In addition to the SoA logo being displayed on participant Web sites, the Seal of Approval program members are also identified on the IGC’s Web site, www.igcouncil.org.
For more information contact:
Dan Walsh (202) 293-8144 Keith Furlong, Deputy Director, IGC (973) 427-7990 |
