HSBC Bans Use of Credit Cards for Online Gambling

Published May 22, 2014 by OCR Editor

HSBC blocks usage of the credit cards for online gambling sites.

HSBC in Malta has disallowed the use of their credit cards for online gambling due to the concern about unauthorized gambling. Additionally, agents of Maltco, Malta's lottery organization, have been told to use another bank.

David Hall, the group public affairs manager of HSBC Malta, commented that the bank is acting based on legal advice, and in actuality, the bank stopped authorizing gambling transactions a year ago. Customers, however, did not report any problems using their HSBC credit cards on gambling sites until about a week and a half ago; specifically, one customer reported having problems depositing funds at the William Hill site.

Surprisingly, many customer service representatives at HSBC did not know about the bank's new policy regarding online gambling transactions. Hall said that the representatives were contacted by the bank's credit card hotline, but only one employee was aware of the new change. 

When asked why HSBC Malta did not issue a public statement about their new policy, Hall said that they did not see the need. "We did not issue a press release [on the ban]. 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."

Online Gaming in Malta

Malta has been licensing online gambling sites since the year 2000, and the Lotteries and Gaming Authority is responsible for the governance of gaming in Malta and developing policies. A Malta License is respected throughout the online gaming world, and its online gaming industry continues to thrive.

Mentioned in this article

See also

Pennsylvania Politicians Split on Issue of Federal Online Gambling Ban

Christie Signs Resolution Urging Trump Not to Implement Federal Ban on Online Gambling

EU Criticizes US Online Gambling Ban

Finland Moves to Ban Online Gambling

Ukraine Gambling Ban Protested


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