Quote:
|
Originally Posted by tony404
I agree with you there is nada protection its a flawed model. To start a casino and get a gaming license there must so much money in escrow to cover certain amount of winnings I forgot the number. These third party processors doesnt have to have anything aside, no oversight ,no spot checks by auditors and its scary.
|
Can't remember exactly Tony, but I think there is some substantial sum dumped on the table - but that is just to pacify Visa. They obviously thought thru the third party scenario and are covering their own ass.
But yea.. agree.. it's scary shit and a biz I'd not like to be involved or responsible for under these conditions. It sounds much better to have accountability and funds specifically tied to client accounts as they are recieved from bankers. It's obviously not what is happening with iBill at this time - the lot seems to be in one big melting pot :-)
Next is a solution for the security of funds within North America - else others, possibly via the SEC situation, may help with an enforced "solution"
