BSP cracks down on online gambling risks

The Bangko Sentral ng Pilipinas (BSP) is gearing up to launch tough new rules aimed at shielding Filipinos from the growing risks of online gambling.

In a statement on Thursday, the central bank revealed that the new framework will enforce strict identity verification measures — including facial recognition — to ensure that only eligible users can access gambling-related services using their digital funds.

To prevent excessive financial losses, the BSP will also impose daily limits on gambling-related transactions and introduce time-based restrictions to curb impulsive spending behavior.

Users will soon have access to self-protection tools, such as personal spending caps, voluntary timeouts, and even full self-exclusion from gambling payments — all designed to promote responsible digital finance use.

“These safeguards aim to reduce the risks of addiction, fraud, and financial harm, while promoting the responsible use of digital financial services,” the BSP said.

The rules were crafted after a round of public consultation and will mandate banks, e-wallets, and other financial platforms to roll out stronger security measures and responsible gambling protocols.

“The BSP remains committed to maintaining a safe, secure, and inclusive digital finance ecosystem for all Filipinos,” the central bank added.

With online gambling transactions rising sharply in recent years, the BSP’s proactive move underscores its resolve to balance innovation in financial technology with consumer protection.