§ 634. Civil penalties
The Commission may assess a civil penalty against a person that violates this Article or a rule or regulation adopted or an order issued pursuant to this Article in an amount not to exceed $10,000 per day for each day the violation is outstanding, plus the Commission’s costs and expenses for the investigation and prosecution […]
§ 635. Criminal penalties
(a) A person that intentionally makes a false statement, misrepresentation, or false certification in a record filed or required to be maintained under this Article or that intentionally makes a false entry or omits a material entry in such a record is guilty of a felony. (b) A person that knowingly engages in any activity […]
§ 626. Books, accounts, documents and other records
(a) A licensee shall maintain books, accounts, documents, and other records necessary to determine the licensee’s compliance with this Article. A licensee shall maintain the following for at least three (3) years after the record is created: (1) a record of each wager accepted; (2) a record of each prize paid; (3) a general ledger […]
§ 627. Money laundering reports
A licensee and the Master Service Provider shall file with the appropriate Federal Agencies and the Division of Gaming Enforcement of the Virgin Islands Department of Justice all reports required by federal currency reporting, record keeping, and suspicious transaction reporting requirements as set forth in 31 U.S.C. Section 5311, 31 C.F.R. Part 103 as amended, […]
§ 628. Confidentiality of records
(a) Financial information not normally available to the public that is submitted on a confidential basis by an applicant or a licensee to comply with licensing or other regulatory functions of the Commission is confidential. (b) Nothing in this section prohibits the Commission from releasing to the public a list of persons licensed under this […]
§ 629. Permissible investments
(a) A licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles of not less than the aggregate amount of all of its outstanding prizes and monies held on account for players by the licensee. (b) The Commission with respect to any licensees, may […]
§ 630. Types of permissible investments
(a) Except to the extent otherwise limited by the Commission pursuant to section 629 of this Article, the following investments are permissible under section 629: (1) cash, a certificate of deposit, or senior debt obligation of an insured depositary institution, as defined in section 3 of the Federal Deposit Insurance Act 12 U.S.C. § 1813; […]
§ 621. Authority to withhold prizes
(a) If a licensee has reason to believe that the result of an approved Internet game or approved Internet gambling has been affected by an illegal activity or malfunction of equipment, the licensee may withhold a prize in the approved Internet game or approved Internet gambling. (b) If a licensee withholds a prize pursuant to […]
§ 622. Complaints
(a) A licensee shall investigate: (1) a complaint made to the licensee by a person about: (A) the conduct of an approved Internet game or approved Internet gambling by the licensee; or (B) the conduct of an agent of the licensee in operations related to an approved Internet game or approved Internet gambling; or (C) […]
§ 623. Authority to conduct examinations
(a) The Commission shall conduct examinations of a licensee with or without notice when deemed appropriate by the Commission. (b) The Commission shall examine the licensee without having given notice, if the Commission has reason to believe that the licensee is engaging in an unsafe or unsound practice or has violated or is violating this […]