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| | | February 16 - Online payment processor, Neteller Plc, has announced that it has
cut 220 jobs in its Canadian office and 30 jobs in its UK office, in direct
response to the loss of its US business, which was by far its largest market.
In a statement, Neteller said that it was also considering selling or at
least leasing out some of its facilities in Calgary, Canada as part of its strategy
to consolidate after the devastating overnight loss of its US customer base.
Neteller, which is registered in the Isle of Man, made the announcement
following a series of events that has kept it in the news for the last two
weeks, starting with the arrest of two of its founding members in the United
States.
US authorities seemed to be sending a strong message to the online gambling
industry to stop marketing to and accepting online gambling-related funds from
US citizens, following the anti-online gambling legislation passed by Congress
last year.
Following the arrests, Neteller stopped transacting in the United States but
is still operating as normal elsewhere in the world. Neteller is just one of a
multitude of online gambling related industries affected by the US legislation.
These include online casinos, poker rooms, sports betting sites,
payment gateways, affiliates and more.
As part of the legislation, it is illegal in the
United States to fund online gambling accounts using credit cards, debit cards
or any other electronic means including online payment processors.
The trading of Neteller shares has been 'halted' on London's AIM international
market for smaller companies and is expected to remain that way for the
foreseeable future.
Visit Neteller today.
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