GamCare Encourages Banks to Block Gambling Transactions on Business Cards

GamCare, the operator of the National Gambling Helpline, has issued a statement urging banks to consider blocking transactional activity between business cards and gambling companies. This recommendation comes in response to increasing reports of business cards being used to finance gambling activities.

Incidents Highlighting the Issue

In a recent workshop, GamCare highlighted a case involving a former business owner who lost her business after her son, who managed the company’s finances, used the business debit card for gambling. This case revealed thousands of gambling-related transactions that went unnoticed by both the bank and the company accountant. Such incidents underscore the severe personal and professional consequences of using company bank cards for gambling.

Recommendations for Prevention

To mitigate these risks, GamCare recommends that banks block gambling transactions on business accounts. Additionally, companies should implement staff training and awareness programs, transactional monitoring, and intervention and support initiatives to protect their employees from gambling harm.

Raminta Diliso, Financial Harm Manager at GamCare, emphasized the hidden nature of gambling harm: “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.

Broader Implications

This call to action by GamCare follows its previous advocacy for enhanced workplace support for staff with gambling-related issues. A YouGov study revealed that only 9% of companies have policies addressing gambling problems, highlighting a significant gap in workplace support systems.

As GamCare continues to push for stronger measures to prevent gambling harm, the organization’s latest recommendations aim to protect both businesses and individuals from the financial and personal repercussions of gambling. By encouraging banks to block gambling transactions on business cards and promoting comprehensive support initiatives, GamCare hopes to foster a safer and more responsible financial environment.

Source: “GamCare encourages banks to block gambling transactions” Gambling Insider, June 12, 2024.