The problem-gambling treatment support charity has published its “Business banking, debt and gambling harm” report, produced from insights gained from workshops and research on gambling-related financial harms.
The report emphasizes the importance of raising awareness and training staff within the banking sector. Banks should utilise their vast data resources to better understand the scale of gambling harm across business accounts and analyse how to foresee and prevent such financial issues.
Another key recommendation is the blocking of gambling transactions on business accounts. The report highlights that while only a small number of business bank account providers, such as Monzo and Tide, currently block gambling transactions by default, and some others, like Santander and NatWest, offer an opt-in gambling block at the customer’s request..