GamCare, the operator of the UK’s National Gambling Helpline, has urged banks to consider blocking transactional activity between business cards and gambling companies. This recommendation follows increasing reports of business cards being used to finance gambling, which has led to significant financial losses in some instances.
In a recent workshop, GamCare highlighted a case involving a former business owner whose son, responsible for managing company finances, used the business debit card to gamble. The bank and the company accountant failed to flag thousands of gambling-related transactions, ultimately resulting in the loss of the business.
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.”
GamCare has recommended that, in addition to blocking gambling transactions on business accounts, companies should implement measures such as staff training and awareness programs, transactional monitoring, and intervention and support initiatives to protect their employees.
This development comes on the heels of GamCare’s call for enhanced workplace support for staff with gambling-related issues. A recent YouGov study found that only 9% of companies have policies in place to address gambling issues, highlighting the need for greater awareness and preventive measures in the workplace.
As Euro 2024 takes place, GamCare issued a call to employers early this month to enhance support mechanisms for workers susceptible to gambling addiction. GamCare is advocating for workplaces to establish safe environments where staff can discuss gambling-related issues and access support services.
GamCare has proposed a five-step plan for employers to address gambling harms among their workforce.