The Bangko Sentral ng Pilipinas is exploring potential measures to restrict public access to online gambling platforms to safeguard consumers from financial and behavioral risks associated with these services.
In a statement released on Thursday, the central bank announced that it has circulated a draft circular to industry stakeholders. The proposal aims to establish more robust consumer protection requirements for banks and electronic money issuers in relation to online gambling activities.
Among the measures under consideration is the imposition of limitations on who may access gambling websites and mobile applications. The BSP emphasized that it is adopting a collaborative approach in finalizing the policy to ensure a balanced outcome that supports consumer protection while maintaining access to digital payment channels for legitimate businesses.
The initiative builds on earlier regulatory actions, including the prohibition of licensed financial institutions from engaging with unauthorized gambling operators. The BSP has also directed electronic wallet providers and other supervised institutions to remove links related to electronic sabong following the government’s suspension of all e-sabong operations.
These efforts, the central bank noted, are aligned with its broader objective of preserving consumer welfare and promoting financial health. It reiterated its commitment to fostering a digital finance ecosystem that is secure, accessible, and inclusive for all Filipinos.