Ecommerce Journal - more about virtual economy|e-commerce news,articles, forex news, trading news, stocks news - Law aspects

1st of December will be gambling processing institutions' Day of Reckoning

ayny — Thu, 13 Nov 2008 13:33:19 +0100

December 1, 2009 was chosen by the Department of the Treasury and the Federal Reserve Board as a deadline for the financial institutions to stop their money transfers for online gambling. Yesterday FRB has released a joint final rule to implement the Unlawful Internet Gambling Enforcement Act of 2006. The Act prohibits gambling businesses from knowingly accepting payments in connection with unlawful Internet gambling, including payments made through credit cards, electronic funds transfers, and checks.

Asean Free Trade Agreement - a pusher of e-commerce in the East

ayny — Thu, 13 Nov 2008 10:38:14 +0100

The Asean Free Trade Agreement -AFTA, definitely plays a significant role in the development of e-commerce among ASEAN nations. ASEAN is the Association of Southeast Nations, with 10 member states and an estimated population of 575.5 million. ASEAN members are Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam; this regional economic group presented a GDP of US$ 3,431.2 billion for the year 2007.

Failed Bill Express and related companies sued by the ACCC

ayny — Mon, 03 Nov 2008 10:39:25 +0100

A claim was submitted to the Federal Court of Australia by the Australian Competition and Consumer Commission against electronic payments company Bill Express and related company Technology Business International, both of which are in liquidation.

French internet law clashes with EU position

ayny — Fri, 31 Oct 2008 08:03:39 +0100

The French Senate has overwhelmingly voted in favour of a law that would cut off access to the internet to web surfers who repeatedly download copyrighted music, films or video games without paying.

Some tips to survive in online reatil business

ayny — Thu, 23 Oct 2008 10:13:55 +0200

The Internet has opened up information sharing in unprecedented and ever-expanding ways. This new world is great for creativity and communication, but it's also brought intellectual property rights into question.

It's vital that online retailers understand intellectual property law so that they don't find themselves infringing on others' rights and possibly facing lawsuits and fines.

Columbia protects the online data

ayny — Mon, 20 Oct 2008 06:19:26 +0200

Colombia’s Constitution, statutes, and case law all contain provisions respecting data protection. However, privacy protection remains a concern because Colombia does not have a law directly dealing with Internet privacy.

Online gambling: To be or Not to be?

ayny — Fri, 17 Oct 2008 17:49:10 +0200

The battle around the online gambling becomes extremely hot and resembles a kind of war in the frame of laws and political issue. Many people think that the first country that has gone on the war-path was the USA. However, according to some sources it was the Australian Government that passed the Interactive Gambling Act (IGA) on June 28, 2001.

Google partnered Yahoo to discuss the antitrust issues

ayny — Wed, 15 Oct 2008 09:58:45 +0200

Can Google and Yahoo work together in the online ad space without creating a giant monopoly? The companies think they can, but there's been a roar of disapproval over the pending deal, with advertisers doing a lot of the objecting. Of course, if it becomes more expensive for companies to advertise online, it's likely that consumers will eventually have to pick up the tab.

Argentina will jail the online gamblers

ayny — Tue, 14 Oct 2008 14:28:25 +0200

The anti-gambling rush continues to fever the world community. Today it reached one of the most developed countries of Latin America – Argentina. So, according to the local reports the government is working at the law similar to the US’s UIGEA that will ban any forms of gambling online. The main argument of the statesmen is that only taxable ways of payment should be allowed.

Europe will hit the crisis and safe the European banks

ayny — Mon, 13 Oct 2008 10:14:35 +0200

Crisis is a very serious issue and one country cannot do anything individually to fight against it. So, last week the leaders of 15 euro-zone countries met in Paris to discuss how to deal with the crisis gripping the world's financial markets.

One of the items of the meeting was the action plan that would guarantee loans between banks through 2009 and allow governments to buy stock in distressed financial companies.

Battle around gambling in USA. Passions run high

ayny — Fri, 10 Oct 2008 12:29:00 +0200

Not so long ago California governor Arnold Schwarzenegger has stated his position regarding the ban of online gambling in the USA. However not all of his colleagues have the same point of view. The governor of Kentucky, Steve Beshar was very critical and urged to prohibit Internet gambling through the seizure of Internet gambling domain names.

Arnold Schwarzenegger wants to terminate the "anti-gambling" act

ayny — Wed, 08 Oct 2008 12:39:53 +0200

Having issued Unlawful Internet Gambling Enforcement Act in 2006 the USA declared all the online casinos illegal and has deprived the US residents to play openly. However, the trouble of the Americans turned into the happiness of the Europeans. UIGEA was a real accelerator for the European gambling industry.

More over, many governments work on the laws to regulate the industry that promises wonders and to legalize it.

Norway fights against online gambling

ayny — Tue, 07 Oct 2008 13:00:17 +0200

After the US government has banned online casinos, and all kind of gambling on the Internet all the players moved to Europe that is milder to online gamblers. However, it seems that Norway decided to show its severe temper of the northern country.

The first moves towards the ban of online gambling were made last November when the Norwegian Government has submitted the proposal for a period of public comment which was to be ended in February, 2008.

The Government agrues about the Digital Bill of Rights

ayny — Tue, 26 Aug 2008 10:31:32 +0200

As the Democrats and Republicans gather at their national conventions, it is time to really think about a comprehensive national technology policy for the Internet Age. Many laws and policies governing the Internet and digital property are inadequate attempts to transplant rules from a different era.

Bangladesh fights against the money laundering

ayny — Thu, 21 Aug 2008 10:54:23 +0200

Bangladesh enacted legislation aimed at controlling and preventing money laundering. Money laundering is a criminal offense in Bangladesh and can result in imprisonment for up to seven years, in addition to financial penalties. The Bank of Bangladesh is responsible for investigating suspected cases and presenting them to the courts, as well as applying for orders freezing or seizing assets of accused money launderers. This article offers an overview of Bangladesh Money Laundering law.

Copyright and licenses, law and its limitations

ayny — Tue, 19 Aug 2008 08:01:09 +0200

The exclusive rights of copyright owners are narrowed by the limitations and exceptions under the Copyright Law. One such limitation is the compulsory licenses and the effect on the copyright holder. However the fact that a compulsory license does not need to be negotiated but is preset has proven to assist with the dissemination of copyrighted works.

Taxes online - pay or skip?

ayny — Thu, 07 Aug 2008 15:08:47 +0200

Taxation of imports becomes an essential element to be aware of in e-commerce. E-commerce transactions involving the transfer of physical goods and parties from two or more countries, regardless of the business model used (B2B, B2C, C2C, etc.), usually demand the payment of taxes by the buyer in the importing country. Import taxes may vary depending on the importing jurisdiction.

eBay plays the games of IRS

ayny — Mon, 04 Aug 2008 12:00:07 +0200

Countless Americans selling as individual entrepreneurs on sites like eBay must now be aware that the Internal Revenue Service has modified their rules to make sure taxes are reported on private Internet transactions. As part of the housing rescue package just signed by President George W. Bush, the Internet transaction interface PayPal and other online payment processors will be mandated to report annual gross receipts to the IRS for almost all Internet sellers.

Ukraine restricts the provision on e-currencies

ayny — Fri, 01 Aug 2008 14:41:45 +0200

The National Bank of Ukraine has approved the provision on e-currencies and has declared that only banks will have an exclusive right to issue them. This provision will come into force on August 5, 2008.

According to this provision all persons and entities which are not banks also prohibited to accept any e-currencies and to exchange them except for the cases when the entities have an agreement with the issue on distribution of the e-currency.

Penalty for compliance failure imposed on E*Trade

ayny — Thu, 31 Jul 2008 15:45:18 +0200

$1 million is to be paid by online brokerage E*Trade to settle claims that two of its units failed to comply with US anti-money laundering (AML) regulations without admitting or denying the allegations against the company.

Under the terms of AML rule broker-dealers are required to verify the identities of customers and document the procedures for doing so.

Prospects of e-Korea

ayny — Thu, 31 Jul 2008 13:39:57 +0200

On July 22, the Republic of Korea Government announced that new rules are coming into effect for the country's web, drafted by the Korea Communications Commission. The ordinance is titled, "Comprehensive Measures for Information Protection on the Internet." These rules establish heavy penalties for website managers and owners for violations of rules regarding breach of libel, private data leaks, and non-anonymous user identity blogging.

Online marketing rules in the US

ayny — Tue, 29 Jul 2008 13:17:42 +0200

Online marketing should always state the truth and not mislead consumers. It must ensure the protection of businesses and consumers and preserve the integrity of the Internet as an advertising medium. Online marketing involves research and active outflow of information. Combining offline and online techniques can double profits.

How to behave online

ayny — Fri, 25 Jul 2008 09:46:20 +0200

The use of Internet has determined that certain rules or conduct should be followed. Specifically the Internet Society has drafted their own code of conduct that must be complied with by its members. This code of conduct include ethics and other issues that have been of growing concern including privacy, encryption and spam issues. The code of conduct governs the practice of unfair business and competitive practices in dealing with electronic commerce issues as well.

Can encryption prevent the cybercrime?

ayny — Thu, 24 Jul 2008 12:37:07 +0200

can be used as a measure of preventing cybercrimes including planned security breaches but also as a means of protecting intellectual property crimes and other crimes involving cyberstalking, harassment, and software theft. However the balance of constitutional concerns must be balanced with the use of encryption.

National Bank of Malawi worries about legislation

ayny — Wed, 23 Jul 2008 12:26:46 +0200

National Bank of Malawi (NBM) expressed its concern regarding the absence of the relevant legislative base to match the current global technological needs.

The bank notes that the existing laws in the sphere of commerce make allowance for checks and cash as the only legal payments which are found by the bank to be very archaic.

The hottest: Credit Card Fair Fee Act

ayny — Wed, 16 Jul 2008 12:07:33 +0200

US voters were polled to express their opinion on the Credit Card Fair Fee Act, a legislation according to which retailers are allowed to negotiate credit card fees directly with the credit card industry in order to cut interchange fees. The survey shows that 77% of them support the new legislation.

Copyright - how to be on a safe side?

ayny — Wed, 16 Jul 2008 09:22:34 +0200

Given the variety of material involved in the set up and operation of a website (text content, images, etc.), it is very easy for an e-business to inadvertently become a copyright infringer. Copyright infringement actions carry important penalties, and thus e-businesses should make sure that measures are put into place to prevent copyright infringement.

Online transactions pending adoption of the Internet law

ayny — Tue, 15 Jul 2008 12:00:15 +0200

The ongoing discussions on TV, radio, newspapers and the Internet on the need to make a law on transactions done electronically are timely.

With the support of the Parliamentary Committee on Energy, Communications and Public works, these efforts by the Government and the private sector to draft an Electronic Transaction Bill (ET Bill) could soon be rewarded when it becomes law.

Online banking from the legal point of view

ayny — Fri, 11 Jul 2008 13:44:25 +0200

The use of electronic banking poses many potential concerns with privacy, online theft and identity theft. The use of these processes may hold more convenience; however there may be some losses that will occur as a result of its use.

Turkish glance at the law

ayny — Thu, 10 Jul 2008 13:01:15 +0200

This essay discusses sellers’ liabilities on e-commerce activities in Turkey, which are regulated by Turkish Obligations Code (OC) and Commercial Code (CC).

Under Turkish OC, article 182, buyers are responsible for the profits or losses generated by the purchased goods from the time the agreement is concluded, unless the agreement states otherwise.