GamCare wants banks to block business gambling payments

Nightmare stories about reputable company employees misusing business funds to fuel their gambling addiction have been frequently grabbing headlines. Why then, asks GamCare, not make it harder for people who suffer from problem gambling to use or access these funds?

GamCare calls on banks to restrict business transactions for gambling

The onus is not entirely on businesses per se, argues the charity, as high street banks in the United Kingdom have a role to play as well. For one, banks should start declining payments made from businesses or business accounts when it concerns matters of gambling.

According to GamCare, there is no reason why this should not have been the case already. Although many of the cases involving problem gamblers see those people first syphon off funds, and not use company funds directly to gamble, there have been some instances of the latter.

GamCare also collected testimonies from victims and their families. One father of a young man who had fallen to bad habits due to problem gambling said:

"My son was gambling from our business account as often as he liked. Our business debit card was linked to multiple gambling sites. Despite thousands of gambling transactions, neither the bank, our bank manager, nor our accountants questioned it; it was simply logged as director’s dividends. We lost our home, our business, and nearly lost our son."

Why deal with the fallout rather than prevent it?

There are also outspoken advocates who warn about the dangers of gambling and how it can impact businesses. According to Business Debtline, a charity that offers advice to businesses in the UK that are facing debt, gambling can have a devastating impact on operations – either leading to reduced revenue and performance or a closure.

Already, banks block card payments from retail customers when they are trying to gamble on credit. The measure was voted unanimously by the government and enforced in April 2020, becoming one of the most significant changes to the regulatory framework.

The latest call to action comes at a time when GamCare is also taking a look at how much support people who may suffer from gambling-related issues get at the workplace.

According to the charity, it’s insufficient, with issues such as alcohol and substance abuse usually getting attention at work, but gambling remains the "silent addiction" until something bad happens.

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