Internet Gambling Prohibition bill

Unlawful Internet Gambling Funding Prohibition Act - Establishes within the Department of the Treasury the Office of Electronic Funding Oversight to coordinate Federal efforts to prohibit restricted transactions.Prohibits any person engaged in the business of betting or wagering from knowingly accepting in connection with another person's participation in Internet gambling: (1) credit; (2) electronic fund transfers or funds transmitted through money transmitting businesses; (3) any instrument drawn by or on behalf of another and payable through any financial institution; or (4) the proceeds of any other form of financial transaction involving a financial institution as payer or financial intermediary on behalf of another person.Grants Federal district courts exclusive jurisdiction to prevent or restrain violations. Sets forth civil and criminal penalties.Limits relief granted against an interactive computer service. Specifies circumstances for the liability of any creditor, issuer, institution, operator, business, network, stored value product transaction, participant, or any interactive computer or telecommunications service.Calls for the United States, in deliberations with a foreign governments, to: (1) encourage cooperation in identifying whether Internet gambling operations are being used for money laundering or other crimes; (2) advance policies that promote international cooperation in enforcement; and (3) encourage the Financial Action Task Force on Money Laundering to study the extent to which Internet gambling operations are being used for money laundering purposes.Modifies Federal criminal code provisions on gambling to: (1) include satellite and microwave communications and communications from fixed or mobile sources; and (2) increase the penalty for unlawful transmission of wagering information.