US Govt. helping Costa Rica to regulate gambling

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  • mg63
    SBR Sharp
    • 05-17-10
    • 265

    #1
    US Govt. helping Costa Rica to regulate gambling
    US Govt. helping Costa Rica to regulate gambling
    http://www.alertnet.org/thenews/newsdesk/N20209461.htm

    U.S. ambassador to Costa Rica
    notes ‘alignment of priorities'
    By Steve Mack
    Tico Times Staff | smack@ticotimes.net

    In a speech to the local business community, U.S. Ambassador to Costa Rica Anne S. Andrew emphasized what she called a “strong alignment of priorities” and “striking coincidence” between the goals of incoming Costa Rican President Laura Chinchilla and U.S. policy in the region.
    At a luncheon organized by the Costa Rican - American Chamber of Commerce (AMCHAM), Andrew cited Chinchilla's promise to make the security of Costa Ricans her highest priority, along with her pledge to move Costa Rica into the ranks of developed nations by promoting investment in high-tech industry, education and a carbon-neutral economy, as evidence that Chinchilla and U.S. President Barack Obama share a similar vision for the region.
    Andrew said the “clear priorities” of the Obama administration in its dealings with the region include promoting citizens' security, ensuring the region's long-term energy security and environmental sustainability, and boosting “shared prosperity” among the nations of the Western Hemisphere through increased trade and economic modernization.
    Andrew said increased security of Costa Rica's citizens is “essential” for the nation to meet its economic aspirations, and that the U.S. is providing technical and material assistance in this area in the form of police training, providing equipment and helping Costa Rica develop a regulatory framework for managing the gambling industry and addressing economic crimes.
    The ambassador lauded Costa Rica for its ambitious goal of becoming the world's first carbon-neutral nation by the year 2021, saying that the initiative is not only important for helping the country become environmentally sustainable, but also as a driving force for the competitiveness of the Costa Rican economy.
    In the economic sphere, Andrew said Costa Rica should work to remove bureaucratic and “hyper-legalistic” obstacles to foreign investment and economic initiatives, reduce its deficit and improve its infrastructure.
    Emphasizing the key role of public-private partnerships in helping Costa Rica meet its development goals, she added that the U.S. is “committed to helping Costa Rica reach the status of a developed country” through a broad-based program of training, information-sharing, exchanges and other forms of assistance.
  • mg63
    SBR Sharp
    • 05-17-10
    • 265

    #2
    the legislative proposal itself gave direct credit to the U.S. Department of Treasury for helping draft some provisions.

    Mostly related to money laundering, transaction reporting (e.g. transactions over $10,000), FINCEN reporting of suspicious transactions, etc. There wasn't anything with regards to restricting online gambling nor regarding taxation of winnings.

    I wonder if you ask for withdrawals over 10K from a book in CR if the book is required to report it?
    Comment
    • THE PROFIT
      SBR Posting Legend
      • 11-27-09
      • 17701

      #3
      Originally posted by mg63
      the legislative proposal itself gave direct credit to the U.S. Department of Treasury for helping draft some provisions.

      Mostly related to money laundering, transaction reporting (e.g. transactions over $10,000), FINCEN reporting of suspicious transactions, etc. There wasn't anything with regards to restricting online gambling nor regarding taxation of winnings.

      I wonder if you ask for withdrawals over 10K from a book in CR if the book is required to report it?
      I would say so
      Comment
      • jjgold
        SBR Aristocracy
        • 07-20-05
        • 388179

        #4
        No gambling is going to be approved ever in USA or abroad other than Las Vegas

        Stop THE BS
        Comment
        • wtf
          SBR Posting Legend
          • 08-22-08
          • 12983

          #5
          "regulate" is a euphemism to shutting down

          or strictly confine what takes place, i am sure the usa govt can throw some other bones to CR to offset the chump change they make on the offshore stuff
          Comment
          • THE PROFIT
            SBR Posting Legend
            • 11-27-09
            • 17701

            #6
            Originally posted by jjgold
            No gambling is going to be approved ever in USA or abroad other than Las Vegas

            Stop THE BS
            Not until we quit electing politicians that have to pander to ignorant asses to be elected.
            Comment
            • pavyracer
              SBR Aristocracy
              • 04-12-07
              • 82865

              #7
              States have a cash cow in state lottery which is legal gambling. Why give their lucrative business to private companies? And I just can't see states running sport gambling by themselves alone.
              Comment
              • acarmelo1
                SBR Hall of Famer
                • 09-29-09
                • 6321

                #8
                Originally posted by pavyracer
                States have a cash cow in state lottery which is legal gambling. Why give their lucrative business to private companies? And I just can't see states running sport gambling by themselves alone.
                even if they do this, State running sport gambling,when you win they will charge you 55% for taxes.
                Comment
                • pavyracer
                  SBR Aristocracy
                  • 04-12-07
                  • 82865

                  #9
                  Originally posted by acarmelo1
                  even if they do this, State running sport gambling,when you win they will charge you 55% for taxes.
                  Exactly.
                  Comment
                  • purecarnagge
                    SBR MVP
                    • 10-05-07
                    • 4843

                    #10
                    the government idea of regulation is like that shit in the gulft atm...its called oil and its been a month. They still can't stop it...roflz
                    Comment
                    • yahoonino
                      SBR MVP
                      • 08-10-07
                      • 2651

                      #11
                      the offshore is a billions dollar industry,,,,the usa govement can kepp this money here in the usa,,,,but that make to much sense for them to understand
                      Comment
                      • Scorpion
                        SBR Hall of Famer
                        • 09-04-05
                        • 7797

                        #12
                        Originally posted by 53rdINF
                        There's an entire chapter in the proposed legislation dedicated to financial reporting, suspicious transactions, and preventive measures against money laundering, structuring, and terror financing. The current draft of the bill is a bit confusing in this regard.



                        Article 81 prohibits:


                        Transactions with clients who have not been previously identified.


                        Cash transactions in amounts equal to, or higher than, US$ 10,000.00 or its equivalent in colones.


                        Issuance of a check or similar instrument with a face value equal to, or higher than, US$ 10,000.00 or its equivalent in colones.


                        Electronic funds transfer of amounts equal to, or higher than, US$ 10,000.00 or its equivalent in colones.

                        Article 81 allows:


                        Transfer of gambling proceeds to clients who are properly identified by means of check or electronic funds transfer, as long as the proceeds are transferred upon request of the client and such proceeds are marked as being the product of gambling activity. Cash hand-offs and payments in casino chips or vouchers are not allowed.


                        If a client tenders cash for a bet or wager which is then withdrawn, said cash can be returned as long as it is reported as not being the product of a gambling win.

                        Article 82 demands:


                        That each monetary credit, debit, or transfer transaction of amounts equal to, or higher than, US$ 10,000.00 or its equivalent in colones be reported to the Superintendent of Gaming.


                        Each transaction should be reported within 15 days on a prescribed form.


                        Before each transaction is conducted, the client's name, address, and cédula should be recorded. For non-residents and foreign clients, passports or other forms of ID which indicate nationality should be recorded.

                        Article 83 states:


                        Any multiple transactions coming from the same client on any given day, which add up to a sum equal to, or higher than, US$ 10,000.00 or its equivalent in colones; shall be reported.

                        Article 84 explains:


                        That any transaction of amounts equal to, or higher than, US$ 10,000.00 or its equivalent in colones shall be considered suspicious and thus shall be reported to Law Enforcement within 15 days when:


                        It is known that funds were derived from illegal activity.


                        Structuring takes place.


                        The transaction does not make sense.

                        Articles 85 to 89 explain recording and accounting

                        ..........
                        Comment
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