Separate to its agreement with US authorities to pay a US$136 million forfeiture and enter into a period of probation, Neteller has announced it will no longer be processing payments for online gambling sites for Israeli customers.

The company’s ongoing legal problems have been a saga closely watched by online bingo industry observers since January this year when US authorities began an investigation into allegations of financial wrongdoing by the Isle of Man-based e-wallet.  While bingo online is not a major part of the online gaming landscape in Israel, operators of free online bingo halls could be affected by Neteller’s decision.

To be fair to Neteller, there now exists a fair amount of legal uncertainty in the Israeli online gambling market, enough to make a company like Neteller very wary given its recent problems.  However, It’s likely that Neteller, if it really does survive its brush with US law, will have learned a few lessons about how to handle its Israeli withdrawal.

Neteller says it will stop processing transfers to online gambling merchants for Israel-resident customers starting as of yesterday, Thursday 19 July 2007.  It will then cease processing transfers from online gambling merchants to Israel-resident customers within two weeks, as of Tuesday 31 July 2007.

Written by John Witherspoon - Play bingo online at http://bingostreet.com/ and read celebrity gossip.

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