Banks should be placed under a legal duty of care to help stop problem gamblers spending money they cannot afford, says a think tank led by former Tory leader Iain Duncan Smith.
The study by the Centre for Social Justice Justice (CSJ) proposes a new ombudsman with powers to order the betting firms to slow the pace at which a problem gambler can play, reduce their stakes or refuse to accept any more bets for a limited period.
The alerts would be triggered by a new ombudsman based on data tracking problem gamblers whose funds are severely over-extended by their addiction and face the prospect of financial ruin.
Banks would be placed under the duty of care to share “limited and necessary”financial information with a newly-created bureau mo…
Read the full article at: https://www.telegraph.co.uk/news/2021/05/17/banks-should-forced-share-data-problem-gamblers-stop-spiral/