In a letter to the industry body UK Finance, the Information Commissioner's Office (ICO) has backed a new data-sharing scheme in the financial sector to help protect gamblers from unaffordable losses. The letter confirms that customer financial risk checks can be conducted by gambling companies and that lenders can share personal information as long as it is done transparently and proportionately.
Stephen Almond, Executive Director of Regulatory Risk at the ICO, said, “Problem gambling has devastating consequences for people’s finances, relationships and health. We are keen to see the financial sector share data to protect people from unaffordable losses and spiralling debt.”
In related news, the ICO Sandbox has published an exit report documenting its work with the Betting and Gaming Council to reduce incidents of gambling-related harm. The Betting and Gaming Council participated in the Sandbox to explore the gambling industry's development and trial of a Single Customer View (SCV) solution. The solution, which was developed by the BGC and several operators, including Entain, William Hill, 888, Gamesys, Bet365, and Flutter, aims to enable a more unified and proactive intervention by gambling operators to reduce incidents of gambling-related harm. Following the successful completion of the Sandbox pilot, the project, now known as GamProtect, will be implemented across the industry with the support of the Betting and Gaming Council.
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