BSP to implement stricter measures vs. online gambling

The Bangko Sentral ng Pilipinas (BSP) announced in a press release that it is “finalizing new rules” for banks, e-wallets, and other financial service provides to adopt ‘stronger safeguards’ against online gambling.

A key measure is stricter identity verification through biometric checks such as facial recognition, a security feature already used by platforms like GCash to authorize logins.

The BSP also plans to impose daily limits on gambling-related transactions, time-based restrictions for gambling payments, and user-controlled tools that allow individuals to set personal spending caps, take voluntary breaks, or block themselves entirely from gambling activities.

According to the BSP, these measures aim to minimize the risks of addiction, fraud, and financial harm while encouraging the responsible use of digital financial services.

The BSP has yet to specify a timeline on when it will implement the new rules. GCash had previously introduced its own anti-gambling measures, such as stricter advertising policies regarding online gambling content.

source: BSP