The Bangko Sentral ng Pilipinas (BSP) said on Thursday, Aug. 7, that it is set to implement new regulations aimed at protecting financial consumers from the risks linked to online gambling.
Following a public consultation, the central bank is finalizing rules that will require banks, e-wallet operators, and other financial service providers to strengthen measures against online gambling-related harm.
The planned safeguards include:
- Stricter identity verification through biometric checks such as facial recognition to ensure only eligible users can fund online gambling accounts
- Daily transaction limits for gambling-related payments to help prevent excessive losses
- Time-based restrictions on gambling transactions to curb impulsive spending
- User-controlled tools to set personal spending caps, take voluntary breaks, or self-exclude from gambling activities.
The BSP said these measures are designed to mitigate the risks of addiction, fraud, and financial distress, while encouraging responsible use of digital financial services.
“The BSP remains committed to ensuring a safe, secure, and inclusive digital finance ecosystem for all Filipinos,” the central bank said.
