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PayPal accused of violating Patriot Act
Contra Costa Times
A federal prosecutor in Missouri is claiming that PayPal, eBay's online payments subsidiary, violated the USA Patriot Act by processing Internet gambling transactions, the online auctioneer said in a federal regulatory filing.
The act, passed a month after the Sept. 11, 2001, terrorist attacks, strengthened the law prohibiting the transmission of funds generated from a criminal offense or intended to support unlawful activity.
EBay said it received a letter Friday from the U.S. Attorney for the Eastern District of Missouri "indicating its contention" that PayPal violated the act. The U.S. Attorney's stance subjects PayPal to "potential civil forfeiture" of earnings from the transactions as well as potential criminal liability, eBay said.
The letter also offered a settlement of possible claims if PayPal agreed to turn over its earnings from online gaming sites between Oct. 26, 2001, and July 31, 2002, plus interest.
http://www.intelligentx.com/newsletters/technology/articles/story_tech1_040203.cfm
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Someone's been naughty!!
Contra Costa Times
A federal prosecutor in Missouri is claiming that PayPal, eBay's online payments subsidiary, violated the USA Patriot Act by processing Internet gambling transactions, the online auctioneer said in a federal regulatory filing.
The act, passed a month after the Sept. 11, 2001, terrorist attacks, strengthened the law prohibiting the transmission of funds generated from a criminal offense or intended to support unlawful activity.
EBay said it received a letter Friday from the U.S. Attorney for the Eastern District of Missouri "indicating its contention" that PayPal violated the act. The U.S. Attorney's stance subjects PayPal to "potential civil forfeiture" of earnings from the transactions as well as potential criminal liability, eBay said.
The letter also offered a settlement of possible claims if PayPal agreed to turn over its earnings from online gaming sites between Oct. 26, 2001, and July 31, 2002, plus interest.
http://www.intelligentx.com/newsletters/technology/articles/story_tech1_040203.cfm
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Someone's been naughty!!
