AIB's Gambling Prevention Feature Aids Customer Protection in Ireland
In Ireland, Allied Irish Bank (AIB) provides an option to halt financial transactions related to gambling.
As per an article on RTE's website [English link], AIB is now introducing this feature to its 3.3 million customer accounts.
Customers can utilize this option by contacting AIB's Additional Support Helpline. This block can be set up for both personal and commercial accounts.
AIB joins Ulster Bank in Offering Gambling Transaction Block Feature
Following Ulster Bank's [English link] initiative since November 2020, AIB will become the second Irish financial organization to provide customers the choice to restrict transactions with gambling providers.
Moreover, EBS Ireland, a subsidiary of AIB, enables customers to set up a gambling block for their current accounts. Regarding this, Geraldine Casey, AIB's Head of Retail Banking, stated:
When gambling becomes harmful, it negatively impacts not only the person concerned but also their family, friends, finances, employment, and mental health. The financial services sector has a role in supporting customers in addressing any gambling concerns, and it's crucial for AIB to contribute to halting such harm.– Geraldine Casey, AIB's Head of Retail Banking, YOGONET
Gambling Addiction Pose Significant Challenges in Ireland
Ireland has been battling gambling addiction recently, as many players exhibit problematic gambling behavior. This was also confirmed by a 2019 Health Research Board study [English link], which revealed that approximately 4% of the Irish population are impacted by gambling addiction.
Prominent sports figures in Ireland have also been affected by gambling addiction. For instance, Gaelic Football player and All-Ireland winner Oisín McConville [English link] overcame his addiction after seeking treatment. He stressed in his autobiography that he had lost around £100,000 (€118,629) due to gambling. Currently, he advocates for gambling awareness in Ireland.
To combat gambling addiction in Ireland, the Irish parliament recently passed a new regulation bill. The new legislation includes a prohibition of gambling advertising in Ireland between 5:30 AM and 9:00 PM.
Delay in Implementation of New Gambling Regulations in Ireland
AIB's decision to offer the gambling transaction block feature was also precipitated by delays in the implementation of the Irish Gambling Regulation Bill (GRB).
The bill has been under deliberation in the Dáil (Irish Parliament) since July 2023, despite the Irish government having reached a consensus on the gambling regulation content and framework as early as late 2022. The new regulations aim to replace Ireland's Betting Act of 1931 [English link]. However, it remains unclear when the new gambling rules will be enacted in Ireland.
In response to the delays in implementing the Irish Gambling Regulation Bill, many online casinos in Germany, being aware of the rising concern about gambling addiction, have started actively targeting the German market to attract Irish customers. This shift in strategy poses a challenge for Irish financial organizations like AIB, as they need to accommodate the increase in online gambling transactions from customers abroad.
Despite the presence of online casinos in Germany, AIB's gambling prevention feature remains a valuable tool for Irish customers, providing them with the option to restrict transactions with online casinos in Germany, just as they can with domestic gambling providers.
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