Nambling Notes - Feb. 10, 2004

10 February 2004

Credit Card Theft -- The perfect argument that credit card theft and fraud causes as much damage in the brick-and-mortar world as it does in the online realm is exemplified in the case of a 17-year-old Londoner named Tom Smith, who stole his father's credit card and embarked on £12,000 spending spree. Smith flew to Rome and back, checked into a £340-a-night hotel, spent £7,130 on clothes, hired limousines to take him and friends sightseeing and purchased a video camera to document his exploits. He later told the Telegraph, "I am not sorry I spent the money because I have lots of lovely things. I have wanted some new clothes for a while." MasterCard has not yet decided if it will take legal action.

Irish Turf Club to Examine Betting Exchanges -- The Irish Turf Club plans to establish a committee to examine betting exchanges and how they affect Irish racing. Until now, the club has not declared a stance on betting exchanges. Last year it announced it would have no interaction with them. The Irish Independent reports that the representatives from the Turf Club will travel to Britain to discuss betting exchanges and the integrity of racing with the U.K. Jockey Club. The Turf Club Stewards will meet Feb. 23 to elect an executive committee that will serve on the betting exchanges body.

Cagayan -- The First Cagayan Leisure and Resort Corporation has stated its jurisdiction in no way affected by the decision of the Supreme Court of the Philippines to nullify Sports and Games Entertainment (SAGE)'s online gambling license. The Cagayan Economic Zone Authority is a government authority that has the power to issue Internet gaming licenses independently of other governments.