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HSBC is worried about the rise of unlicensed online gambling.
According to the Malta Independent Online news site, HSBC has placed a ban on credit cards for online gambling transactions, because of concerns at the spread of unlicensed gambling.
Maltco, the local lottery provider, has contacted its agents and advised them to choose another bank before the end of May, when the ban is supposed to become effective.
David Hall, HSBC’s group public affairs manager in Hong Kong, told the newspaper that the decision was made on legal advice and defended the decision not to announce the move or give notice.
According to reports, the bank has stopped authorizing online gambling transactions a couple of months ago, even though a number of card holder interviewed by the news site said their transactions were only blocked last week. Asked about this, Hall said that such transactions were not the norm.
“We did not issue a press release. If you have an illegal site and you put out a notice saying you won’t allow transactions involving an illegal site, it would be perverse,” said Hall. |
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HSBC bans use of credit cards in online gambling transactions
Monday, 19 May 2023 09:29Share this post
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