Sets forth provisions regarding:
(1) requirements for policies and procedures; (2) compliance with such policies and procedures; (3) immunity from liability for anyone blocking or refusing to honor restricted transactions; and (4) enforcement.
(Sec. 4) Declares that the Federal Government, in deliberations with a foreign government on money laundering, corruption, and crime issues, should: (1) encourage cooperation by foreign governments and relevant international fora in identifying whether Internet gambling operations are being used for money laundering or other crimes; (2) advance policies that promote international cooperation in the enforcement of this Act; and (3) encourage the Financial Action Task Force on Money Laundering to study the extent to which Internet gambling operations are being used for money laundering.
Requires the Secretary of the Treasury to report to Congress on deliberations between the United States
(Sec. 5) Modifies Federal criminal code provisions regarding gambling to: (1) replace the definition of "wire communication facility" with "communication facility"; (2) include satellite and microwave transmissions, and mobile as well as fixed connections; and (3) increase the penalty for unlawful transfers of wagering information.
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