Permanent TSB in Ireland recently launched a new feature that allows customers to voluntarily block gambling transactions on their bank cards. This initiative is designed to provide tools for users with gambling issues to better control their spending behaviors and has been highly commended by the national gambling regulatory authority.
This feature was introduced following recommendations from the Gambling Regulatory Authority of Ireland (GRAI) and is part of the efforts to enhance the responsibility of financial participants in consumer protection. GRAI is working with multiple financial regulatory bodies and major banks to promote more comprehensive measures against gambling harm.
In addition to PTSB, other major financial institutions such as Revolut, AIB, EBS, and Bank of Ireland have also introduced gambling transaction restriction features in their systems, reflecting the industry's collective progress in responsible finance and public health.
GRAI Chief Executive Anne Marie Caulfield welcomed this development: "The in-app gambling blocking mechanism launched by PTSB is a proactive intervention measure that brings substantial self-protection tools to consumers, helping to reduce the financial and psychological risks associated with gambling."
Meanwhile, GRAI also confirmed that it is developing a national "self-exclusion registration system" to provide consumers with more systematic tools to limit their access to all gambling platforms.
The launch of this financial interception mechanism coincides with a crucial moment in the reform of gambling regulation in Ireland: the new gambling regulatory framework will officially take effect in October 2024. In March this year, GRAI took over the comprehensive regulatory functions of the Irish gambling market and moved into its headquarters in Dublin in April.
Against the backdrop of increasingly comprehensive regulatory systems and active cooperation from the financial industry, Ireland is gradually building a safer and more responsible gambling environment.
