Share Price Fall at GB Group over Data Misuse Claim

The share price of GB Group (GBG), which I hold, fell sharply this morning. This probably relates to stories in the Sunday Times and Daily Mail which suggested that betting firms have been granted access to a database of 28 million children and were using it to boost the number of young gamblers. GB Group is mentioned in the articles.

GB Group certainly uses many different databases from third party sources to provide personal identity verification. This is so as to prevent fraud and verify age where relevant. GB Group provides this service to many different companies including on-line gambling companies where quick verification of identity is essential.

It seems that the Learning Records Service which has a database containing the names, ages and addresses of all children in the UK aged over 14 provided access to a third party (Trustopia) who then provided access to GB Group. At least that is the claim.

Whether that is a legitimate use under Data Protection Regulations is debatable (this is a complex area of law), but providing age verification should actually surely have prevented children gambling rather than enabled it. It also seems very unlikely that gambling companies were given direct access to the database as the media articles claim.

You can read the Daily Mail article here: https://www.dailymail.co.uk/news/article-7904287/Betting-firms-granted-access-database-28-MILLION-children.html

I hope GB Group will clarify their involvement and explain the legal position as soon as possible.

Roger Lawson (Twitter: https://twitter.com/RogerWLawson )

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