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Millions of people around the world are enjoying the convenience and fun of shopping on the Internet. Smart online shoppers will continue to take sensible precautions, just as they have always done when making purchases over the telephone or even at shops. To minimise any risk associated with using credit cards, here are some 'common sense' practices to keep in mind:
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Online gambling, which is also called Internet gambling is usually betting, playing and collecting money from sports or casino type games over the Internet. It is usually carried out by using your credit card to bet online similar to how you shop online. Online gambling is illegal in some countries and financial institutions may choose not to honor card transactions used for this purpose.
Around the world, there is a wide variance in the legal and cultural acceptance of gambling, both online and in the physical world. Most credit card companies have implemented transaction identification systems that will clearly identify an Internet gambling transaction. It is up to the banks to determine, based on legal, cultural, and risk management issues, whether or not they choose to process Internet gambling transactions. In Malaysia, Bank Negara Malaysia has issued guidelines to all financial institutions not to honor any online gambling transaction.
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| For related
links and additional reading, select your country/ market
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