Net Security – A new report by McAfee sheds light on the underground world of online gambling. It identifies the proliferation of online casinos, an industry set to grow nearly 30% over the next three years, and how their use is fuelling cybercrime by making it easy to “cash in” on illegal activities. Online gambling involves huge volumes of transactions and cash flows that can obscure and disguise money laundering. Players are not dealing with a tangible, physical product; physical currency does not change hands. As a result, illegal proceeds can be laundered by wagering them on one end of…

Cincinnati.com – Kentucky’s efforts to seize 132 internet gambling domain names is on hold after an appeals court ruled Friday that a trade association may represent the owners of the sites trying to fend off forfeiture proceedings. The decision by the Kentucky Court of Appeals allows the Interactive Gaming Council to step into the 6-year-old case and, at least temporarily, keep the identities of the owners of various internet gambling sites from being publicly revealed. Judge Allison Jones, writing for a unanimous three-judge panel, noted that Kentucky has treated the domain names as a group for much of the litigation but…