GamCare calls for banks to block business payments to gambling firms
The charity wants better protection from banks for UK businesses and the self-employed after anecdotal evidence emerges from latest workshop
GamCare has urged UK banks to block payments from business accounts to gambling companies in order to safeguard both employers and employees.
The safer gambling charity has cited cases whereby business-specific bank accounts were used for gambling transactions, leading to debts that caused people to lose their businesses and livelihoods.
In such instances, the payments were never questioned by the bank, bank manager or company accountants, according to GamCare.
The findings came following a recent workshop hosted by the organisation, in which debt advice charities PayPlan and Business Debtline confirmed small businesses and the self-employed were most likely to be impacted.
In addition to blocking payments to gambling companies from business accounts, GamCare has also suggested that banks should monitor a firm’s transactional data to spot any harmful patterns of gambling and flag them for further investigation.
The charity also wants improved training for staff and bank managers so that they’re better placed to spot any gambling related issues, as well as offering greater support for customers so they have all the resources they need to combat any gambling-related harm.
Raminta Diliso, financial harm manager at GamCare, said: “Gambling harm can be a very hidden issue and it is worrying to hear that some people are financing their gambling through business funds.
“Business banks need to be aware of the risks of allowing transactions to gambling companies – both for the businesses and for the people running these businesses.
“Following our event, we have made some practical recommendations so banks can prevent British businesses and people from gambling harm,” she added.
Earlier this month, GamCare called for businesses to create safer spaces for employees to talk about issues surrounding gambling-related harm, after research from YouGov suggested that such spaces aren’t widely available.