A study conducted by Queen Mary University of London suggests that banks in the UK have the potential to contribute to the fight against gambling harm. The study highlights that credit institutions are well-positioned to identify and mitigate the negative consequences associated with gambling.
According to the research, 44% of UK residents engaged in gambling at least once in 2023. While gambling can be a form of entertainment, the report underscores that for some individuals, it can lead to serious financial difficulties. Dr. Janelle Jones, a senior lecturer at the university, emphasized that banks possess the ideal tools to proactively address such harm.
The study suggests that banks can effectively identify and assist clients in recognizing the signs of gambling addiction at an early stage. Financial institutions should conduct thorough cost analyses to monitor transactions and identify instances of excessive deposits into online casinos or sportsbooks.
