Banks Introduced to Proactive Analysis of Transactions for Identification of Harmful Gambling Activities
In a bid to safeguard individuals impacted by gambling-related financial harm, GamCare, a leading provider of information, advice, and support for those experiencing gambling issues in Great Britain, has recommended a series of measures for banks to implement.
GamCare, established in 1997 and funded by GambleAware, operates the National Gambling Helpline, a free, confidential service available 24/7, every day, which saw over 52,000 calls and online chats last year. The charity's mission is to support anyone experiencing gambling harms, whether their own gambling or someone else's.
Last year, 72% of people who contacted the National Gambling Helpline disclosed financial difficulties. In response, GamCare launched the Gambling Related Financial Harm project, a cross-sector initiative established in 2019, aimed at sharing knowledge, developing resources, and enabling firms to support customers affected by gambling harms.
One of the key recommendations is for banks to proactively refer customers at risk into third-party expert gambling support, including services like the National Gambling Helpline. Some banks, like Santander, have already begun to take a more proactive role in protecting their customers. Santander shares methods such as better tools to review levels of gambling spend, more frequent push notifications about support tools, and signposting to support services after large gambling expenditures.
In addition, banks are encouraged to signpost to self-exclusion schemes like GAMSTOP and blocking software such as Gamban to offer customers extra protection. Most UK current account providers now offer bank gambling blocks as their own support and tools.
Beyond referral and signposting, banks are advised to implement proactive transaction monitoring and blocking. This includes introducing features to identify and block gambling transactions that may cause harm. For example, some banks already block millions in gambling transactions monthly to prevent customers from exceeding safe limits.
Furthermore, banks should use behavioural analytics for early identification of problem gambling patterns such as repeated risky bets or spending beyond financial means. They should also provide accessible educational resources to help customers understand gambling risks and encourage responsible behaviour.
Customers should be empowered to set betting, deposit, and loss limits with safeguards such as delay periods before increases take effect, supporting self-regulation and prevention of impulsive gambling. Banks are also urged to integrate identity and age verification to ensure gambling is legal and reduce underage or fraudulent gambling activities.
Collaboration with specialist organisations like GamCare is another crucial step. By working closely with charities, banks can connect customers showing signs of harm to professional support services. Banks are also advised to promote awareness of gambling harm signs, helping customers recognize warning signs such as obsessive gambling thoughts or hiding gambling from family, prompting early intervention and support-seeking.
Lastly, financial platforms should incorporate secure interfaces and transaction safeguards to minimize harm from gambling-related spending. These measures align with GamCare’s focus on preventing gambling harm through a combination of responsible financial controls, education, and partnership with support organisations, aiming to reduce the risk of addiction and financial distress among banking customers.
A recent workshop run by GamCare involved over 70 representatives from financial services, the debt advice sector, and gambling support services, underscoring the growing recognition of the need for concerted action in this area. The National Gambling Helpline can be reached via phone, live web chat, or Whatsapp.
- GamCare, a charity that offers support for gambling issues, has launched the Gambling Related Financial Harm project, encouraging banks to proactively refer customers at risk into third-party expert gambling support.
- Banks are advised to signpost to self-exclusion schemes like GAMSTOP and blocking software such as Gamban, offering customers extra protection.
- Banks should implement proactive transaction monitoring and blocking, including features to identify and block gambling transactions that may cause harm.
- Customers should be empowered to set betting, deposit, and loss limits with safeguards such as delay periods before increases take effect, supporting self-regulation and prevention of impulsive gambling.
- Banks should use behavioural analytics for early identification of problem gambling patterns and provide accessible educational resources to help customers understand gambling risks.
- Collaboration with specialist organisations like GamCare is crucial, enabling banks to connect customers showing signs of harm to professional support services.
- Financial platforms should incorporate secure interfaces and transaction safeguards to minimize harm from gambling-related spending.
- Banks are encouraged to integrate identity and age verification to ensure gambling is legal and reduce underage or fraudulent gambling activities as part of their industry's responsibility towards health-and-wellness, workplace-wellness, and mental-health.
