Financial account holders can restrict their cards from being utilized on gaming platforms classified as gambling sites.
The Irish Banking Culture Board (IBCB) has launched a new initiative aimed at addressing problem gambling within the banking sector. The Common Commitment of Care for Problem Gambling is a comprehensive approach that aims to provide consistent and compassionate support to customers affected by problem gambling, reinforcing the banking sector's role in addressing this social issue.
The new framework includes practical measures such as dedicated support phone lines, trained staff, voluntary card blocking, and signposting to trusted external services like Gambling Care and MABS. AIB, Bank of Ireland, and PTSB have already introduced a voluntary debit card blocking feature as part of the Common Commitment of Care.
This initiative is a significant step in the ongoing efforts of the banking sector to address problem gambling, a significant social issue. Research indicates that 90% of gambling transactions occur online, and 99% of these transactions are funded by debit cards. Voluntary debit card blocking is considered a crucial tool in preventing harm associated with problem gambling and helping customers regain control over their finances and wellbeing.
Marion Kelly, CEO of the Irish Banking Culture Board, emphasized the serious harm caused by problem gambling. "We understand the impact problem gambling can have on individuals and their families," she said. "That's why we're committed to providing clear, accessible support for individuals with gambling difficulties through banks."
The IBCB's Common Commitment of Care is part of its wider mission to enhance trust, fairness, and transparency in Irish banking. The Irish Banking Culture Board has called on other financial services players to implement similar measures to address problem gambling. Other financial service providers expected to join the IBCB initiative include major banks and payment providers in Ireland.
The launch event for this initiative took place at the Dublin Chamber of Commerce, attended by Minister of State Robert Troy, Department of Finance, representatives from the Gambling Regulatory Authority of Ireland, Gambling Care, and senior leaders from IBCB member banks. Minister Troy commended the Irish Banking Culture Board and its member banks for their step in addressing problem gambling.
The Gambling Regulatory Authority of Ireland, Gambling Care, and MABS are external services that will be signposted to customers as part of the new framework. The Common Commitment of Care for Problem Gambling aims to standardize the way banks support vulnerable customers, ensuring consistency and reliability.
The IBCC's Common Commitment of Care is a part of the banking sector's role in tackling problem gambling. By directing people towards specialist services such as Gambling Care's 24/7 helpline and MABS's free debt and budgeting advice, the initiative reinforces the banking sector's commitment to supporting its customers in times of need.
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