Money and Mental Health launches programme to help banks tackle gambling harms

During the course of the 18-month program, which is financed by a regulatory settlement that the Gambling Commission has approved, a group of five to seven financial services companies will come together to discuss and resolve common issues related to enhancing assistance for those who are harmed by gambling.

This will include an emphasis on how banks can better assist and assist clients who are suffering from gambling-related harms in order to comply with the Financial Conduct Authority's Consumer Duty, which went into effect in 2023.

 

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A regulatory settlement program funded by the Gambling Commission will gather five to seven financial services companies over an 18-month period to address gambling harm issues. This initiative focuses on enhancing banks' support for clients affected by gambling, aligning with the Financial Conduct Authority’s Consumer Duty requirements introduced in 2023.