Why are some banks making it worse for people with gambling problems?
Iona Bain talks to former gambling addicts about banks giving them credit cards.
As many as 1.3 million Brits struggle with problem gambling. Finance expert Iona Bain has been hearing from the former addicts who say their problem was made worse after taking out a credit card. She's investigating if banks should be doing more to prevent high-risk customers using their products and how something as simple as a marketing message could trigger devastating consequences.
Vanquis has told us it regrets Ali’s experience, and has offered to compensate him £400. It says that its customers’ financial wellbeing is its top priority, and it has strengthened its processes to ensure customers in vulnerable circumstances receive the protection they need.Â
UK Finance, representing the financial services sector, told us that its members are committed to lending responsibly. It says credit will not be provided when an applicant says it will be used to fund gambling, and some firms have introduced card blocks so that customers have more control over spending.
UK Finance also says it has been working alongside the Gambling Commission to look at how data sharing can help gambling operators identify customers experiencing high losses and prevent people getting into problem debt.
And if you've been affected by anything in that film then you can find help and support at bbc.co.uk/actionline
To watch this with subtitles, search for Morning Live on ´óÏó´«Ã½ iPlayer from 26/09/24.
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