BSP mulls new regulations to mitigate e-gambling risks

The Bangko Sentral ng Pilipinas (BSP) is still studying further regulations to help curb risks related to e-gambling, as the proliferation of illegal sites could derail the country's anti-money laundering efforts.

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BSP Governor Eli M. Remolona, Jr. said the central bank can do more to tighten safeguards on e-gambling, after it ordered all electronic wallet providers to remove in-app gambling assets.

"We're still studying it. Basically, as before, we just want to put sand in the wheels. Marami pang pwedeng gawin (There's more that can be done)... along the same lines," he told reporters on the sidelines of the 2025 Manila Tech Summit in Taguig City.

Following the BSP's order, e-wallets, banks, and its other supervised institutions have removed links that would direct users to gaming or gambling websites.

Asked if the rise of e-gambling could affect the Philippines' efforts to remain out of the Financial Action Task Force (FATF) "gray list," Mr. Remolona replied: "Yes, but this will be resolved."

He said illegal gambling sites will be addressed by the Department of Information and Communications Technology.

In February, the FATF removed the Philippines from its list of jurisdictions under increased monitoring for "dirty money" after over three years or since June 2021.