SBC News Voice of the Sports Betting Industry
The Information Commissioner’s Office (ICO) has outlined its support for the financial sector to deepen its data collaboration with UK licensed gambling operators.
The UK’s independent body on data rights, privacy and protections has responded to a query by UK Finance, the trade body for UK financial services, in which it asserted that data laws should not stop gambling firms from conducting risk assessments on customers.
Financial institutions are able to share personal data with gambling operators, provided the process is done transparently and proportionately in accordance with existing laws.
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.”
The ICO is aware of consumer concerns on data privacy related to gambling. As such, it is currently working with the Gambling Commission on designing privacy safeguards for financial risk checks.
Gambling operators will only be allowed to use personal information they receive for the purpose of referencing risk management checks. Furthermore, operators must ensure that customers are informed of such checks in cases of significant losses.
UKGC has outlined plans for gambling companies to share data on high-risk customers who are gambling across multiple sites, as part of its long-term industry strategy.
Of significance, ICO and the Betting and Gaming Council (BGC) have been collaborating on the Regulatory Sandbox, a project focused on protecting gamblers while maintaining their privacy rights.
Post the Sandbox pilot completion, the data-sharing initiative, named GamProtect, will be rolled out across the gambling industry, backed by the Betting and Gaming Council.
Almond concluded: “Data sharing can be a force for good, enabling organisations to protect people from gambling-related harm. We’ve been pleased to work with the Betting and Gaming Council through our Regulatory Sandbox to help them safeguard gamblers while upholding their rights to privacy.”
