Ireland’s Allied Irish Bank (AIB) takes a significant step towards supporting individuals battling gambling addiction with a new voluntary service. This initiative, developed in collaboration with gamblingcare.ie, enables customers to block all gambling-related transactions across AIB's credit and debit cards. The feature, which extends to EBS bank customers, owned by AIB, is designed to restrict access to both online and physical gambling platforms.
Key Takeaways:
- AIB introduces a voluntary feature to block gambling transactions, aiding those with gambling addictions.
- The service is a collaborative effort with gamblingcare.ie and is available for AIB and EBS bank customers.
- Research indicates a growing concern for gambling addiction in Ireland, with significant numbers affected.
Supporting the Battle Against Gambling Addiction
Geraldine Casey, AIB Managing Director of Retail Banking, emphasizes the detrimental impact of harmful gambling not just on individuals but also on their families and communities. Acknowledging the financial sector's role in mitigating these effects, Casey states, “It’s important AIB does what we can to help them stop the harm.” This statement underscores the bank's commitment to providing tangible support for those seeking to overcome gambling challenges.
A Growing Concern in Ireland
The initiative is timely, responding to alarming statistics regarding gambling addiction in Ireland. A 2023 report by The Rutland Centre highlighted that 20% of its admissions were for gambling addiction, translating to 1,042 individuals out of 5,213 admissions. Furthermore, the Economic and Social Research Institute (ESRI) in 2023 reported that approximately 1 in 30 adults in Ireland, or around 130,000 individuals, were experiencing the harms of problem gambling—a significant increase from 2019 figures. The ESRI also noted that 279,000 adults exhibited early signs of problem gambling, with 64% of adults reported to have gambled before the age of 18 by June 2024.
A Step Forward
AIB's initiative is part of a broader movement within the financial services industry to protect consumers from the risks associated with problem gambling. In 2022, Revolut implemented a ban on transactions to gambling websites in Ireland, revealing a proactive approach to addressing this issue. AIB's move further solidifies the industry's commitment to supporting vulnerable customers.
Conclusion
AIB's introduction of a gambling transaction block feature represents a crucial advancement in the fight against gambling addiction in Ireland. By providing a tool that helps individuals control their gambling habits, AIB not only showcases its dedication to customer welfare but also sets a precedent for other financial institutions to follow. As Ireland continues to grapple with the growing challenge of gambling addiction, such measures are vital in fostering a supportive and responsible banking environment.
