UK Data Body supports sharing of financial data for gambling risk assessments
The UK’s Information Commissioner’s Office has stated that data laws do not prevent the collection and sharing of financial data for risk assessments by gambling firms
The Information Commissioner’s Office (ICO), the UK’s data and privacy authority, has affirmed its support for sharing financial data to enable licensed gambling operators to conduct more thorough financial risk checks on customers.
It clarified that data laws do not prevent gambling companies from carrying out risk assessments, and financial institutions can lawfully share customers’ personal data with these operators.
However, this process must comply with transparency standards and existing laws.
The ICO is collaborating with the Gambling Commission to develop privacy safeguards for such risk checks.
An initiative called GamProtect, which promotes data sharing on high-risk customers across multiple gambling websites, is expected to be rolled out across the British regulated gambling sector.