Major Bank Bans Use of Credit Cards for Online Gambling
HSBC the leading banking group has been reported to have banned its customers using credit cards for online gambling transactions. The Malta Independent online news site said the move was made due to concerns with customers using credit cards for online gaming transitions at unlicensed operators.
Maltco, the island’s lottery provider advised its customers to switch banks before the end of May as the ban will become effective in June.
David Hall, HSBC’s group public affairs manager in Hong Kong told the newspaper that they acted on legal advice and the decision was made without notice. The HSBC bank stopped authorising online gambling transactions a few months ago but the island’s lottery provider said that their transactions were blocked May.
David Hall was asked about these contradictions and he said that the transactions were not the norm.
We did not issue a press release of the ban, but if you have an illegal gambling site and you state that you do not allow transactions involving an illegal site, this would be awkward.
Not everyone in the bank were aware of the situation since three representatives were contacted by the Independent on the bank’s credit-card hotline and only one was aware of the prohibition.
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