AmEx And Citigroup Ban UK Customers From Using Credit Cards For Online Gambling
The Times reported last week that American Express and Citigroup have barred
their customers from using credit cards issued by the firms to access online
gambling services. This is the first time that such a ban has been imposed in the United Kingdom,
although speaking to the Times, an AmEx spokeswoman revealed that it is part
of a blanket policy imposed in 2000 that the firm will not deal with online
casinos or pornography providers. Citigroup, meanwhile, revealed that it had reached the decision to impose a
ban following a similar move by its Citibank operation in the United States. Both firms told the newspaper that they had no intention of removing the ban
when the controversial Gambling Bill comes into force, and observers have suggested
that other banks may follow suit, compounding the government's embarrassment
over the legislation. On Monday, the Times reported that owners of large US casinos looking to locate
in the UK had been promised that the tax on gaming would be cut from 40% to
between 15% and 20%, but that Chancellor Gordon Brown was unaware that such
an offer had been made. A comprehensive report detailing the online gambling situation in the key offshore jurisdictions is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop/
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