IMMEDIATE RELEASE
New Gambling Minister to speak at upcoming conference on how financial services can tackle gambling harm
19 October 2021
The charity Money and Mental Health has today announced a virtual conference for financial services professionals, exploring the exciting opportunities for the sector to help tackle gambling harms.
The half-day event is free to attend and will take place on Tuesday 2 November 2021 from 9.30am – 1pm.
It is aimed at professionals working across the financial services sector, including those specialising in customer vulnerability, product design and public affairs. Attendees can register for the event here.
The conference will celebrate the progress made by the sector in reducing gambling harms over recent years, for example through the introduction of gambling blocks. It will also explore the opportunities and challenges for the sector to build on this work and improve support for customers affected by gambling problems. Confirmed speakers include:
- Minister Chris Philp, Minister for Tech and the Digital Economy, Parliamentary Under Secretary of State, Department for Digital, Culture, Media and Sport
- Charles Randell, Chair, Financial Conduct Authority
- Anna Hemmings, Chief Executive, GamCare
Bringing together industry professionals, experts by experience, politicians, regulators and researchers, the conference will cover issues such as:
- How customers are using loopholes to get around gambling blocks and the ban on credit card gambling, and how these loopholes can be addressed
- How financial services firms can engage with people with lived experience of gambling harms, to improve tools and support
- The increasingly blurred boundaries between gambling, gaming and crypto — and how firms, regulators and policy makers should respond.
The conference is part of a two year programme of work Money and Mental Health is undertaking, aimed at increasing action among financial firms towards reducing gambling related harm. The charity has secured funding through a Regulatory Settlement approved by the Gambling Commission (the regulator for the gambling industry) to support this work.
Helen Undy, Chief Executive of the Money and Mental Health Policy Institute, said:
“Banks and other financial services firms are increasingly playing a critical role in helping people affected by gambling problems, and we’ve been hugely encouraged by the progress made by the sector in recent years.”
“But with technological advancements blurring the lines between gambling and other parts of people’s lives, and making it harder to resist the urge to bet, it’s vital that the financial sector continues to look for new ways it can support people at risk.
“We hope this conference can arm financial firms with ideas and practical steps to overcome the challenges involved in tackling gambling harms, and to step up the support they offer to those at risk. This could make all the difference in helping more people avoid the devastation that problem gambling can cause.”
Tim Miller, Executive Director, National Strategy for Reducing Gambling Harms, Gambling Commission, said:
“Given the vital role the financial services sector can play in tackling gambling harms, we are pleased that firms are showing leadership and an appetite to collaborate with each other and their customers.
“However, new concerns are emerging everyday for people at risk of gambling-related financial harm, so progress can’t stop here. We’re looking forward to discussing what’s next in reducing these risks and how a cross-sector approach can help to make it happen.”
ENDS
For more information, please contact Brian Semple, Head of External Affairs at Money and Mental Health, at [email protected] or 07935 216 804.
NOTES TO EDITORS
About the Money and Mental Health Policy Institute
The Money and Mental Health Policy Institute is an independent charity set up by Martin Lewis, and committed to breaking the link between financial difficulty and mental health problems. We conduct research, develop practical policy solutions and work in partnership with both those providing services and those using them to find what really works. www.moneyandmentalhealth.org
About the Gambling Commission
- More information about how we regulate the gambling industry.
- Useful statistics on the gambling industry.
- Our approach to enforcement.