Data-Sharing Pilot for Financial and Gambling Sectors to Protect Customers from Unaffordable Losses
The Information Commissioner's Office (ICO) has expressed support for a new proposal to enable financial institutions and gambling companies to share data in order to protect UK citizens from unaffordable losses. The ICO along with the Betting and Gaming Council have been working together on this project, completed through a Regulatory Sandbox. This proposal is known as GamProtect and will be rolled out across the gambling industry with the ICO and the Betting and Gaming Council providing guidance and support. This data-sharing initiative aims to reduce problem gambling, which can have damaging consequences on an individual’s finances, relationships and health.