Monzo calls on government for mandatory gambling blocks
Monzo has called on the UK Government to mandate the use of gambling access blocks on all UK bank accounts.
According to research by the University of Bristol, 50% of people who turned on a gambling block had spent less or no money since.
Monzo block up to 585,000 gambling transactions a month – that’s one or two attempted gambling transactions for every person who uses it.
Online gambling has grown rapidly in the UK, with 1 in 5 British people now gambling online regularly. This rise in new ways to gamble, and new ways to pay for gambling, pose a significant challenge to existing harm reduction tools. The Gambling Act review offers a fantastic opportunity to build a standardised, comprehensive framework of self exclusion tools to help the estimated 2 million people in the UK experiencing harm.
Ultimately, the Gambling Act review offers a unique opportunity to create a world-leading self exclusion framework in the UK to reduce gambling harms, and help consumers gain control of their finances. The rise in online gambling, and new ways to pay, requires a robust response from the Government. These small changes, in combination with other, existing self exclusion tools, would help the UK to create world leading harm reduction standards.