The Bangko Sentral ng Pilipinas (BSP) is preparing to roll out stringent new regulations targeting financial transactions linked to online gambling, reinforcing its position against gambling-related harm in the digital economy.
In a policy move aimed at protecting financial consumers, the BSP announced it is finalizing a new regulatory framework requiring banks, electronic money issuers, and other financial service providers to implement enhanced safeguards. The rules, currently in the final stages following a period of public consultation, underscore the central bank’s commitment to a safer, more responsible digital finance environment.
This signals the BSP’s firm stance in mitigating the risks posed by online gambling to consumers and the broader financial system. The new measures are aligned with its goal of fostering a safe, secure, and inclusive digital finance ecosystem.
Key elements of the forthcoming regulations include:
Biometric identity verification, such as facial recognition, to ensure that only eligible individuals engage in gambling-related transactions
Daily transfer limits on gambling-linked payments to curtail potential financial losses
Time-based restrictions on gambling payments, aimed at discouraging impulsive behavior
User empowerment tools, including options to set personal spending limits, take voluntary breaks, or self-exclude from gambling transactions entirely
These interventions also reflect the BSP’s recognition of the mounting risks associated with unregulated or loosely monitored online gambling platforms, including addiction, fraud, and consumer vulnerability.
The new rules form part of the BSP’s broader digital finance strategy, which balances innovation with robust consumer protection.
