### Question
How is the term financial institution defined?


### Answer
The term **financial institution** is defined in *31 U.S.C. § 5362* as the following:

> given the term in section 903 of the Electronic Fund Transfer Act, except that such term does not include a casino, sports book, or other business at or through which bets or wagers may be placed or received.

#### Citation:
  - *31 U.S.C. § 5362*
  - Heading: **SUBTITLE IV-MONEY > CHAPTER 53-MONETARY TRANSACTIONS > SUBCHAPTER IV-PROHIBITION ON FUNDING OF UNLAWFUL INTERNET GAMBLING**

