BSP wants biometric checks, daily limits on online gambling transactions
In a statement, the central bank said upcoming measures include the following:
Strict identity verification, including biometric checks such as facial recognition to ensure that only eligible individuals can use their funds for online gambling;
Daily limits on gambling-related transfers to lessen excessive financial losses;
Time-based restrictions on gambling payments to help curb impulsive behavior;
User tools for setting personal spending caps, taking voluntary breaks, or self-excluding from gambling transactions.
'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 BSP remains committed to maintaining a safe, secure, and inclusive digital finance ecosystem for all Filipinos,' it added.
The BSP did not give a timeline for the implementation, but said that these came following public consultation.
It earlier released a draft circular, which previously required payment service providers (PSPs) to create a facility that would allow users to create a separate online gambling transaction action (OGTA), which would then be placed under stricter rules in a bid to protect clients from risks associated with the industry.
There was no mention of this in the upcoming measures that the BSP released on Thursday.
A number of lawmakers have pushed for a ban on the industry given worries that addiction is soaring, with more gamblers drawn to online, even accelerated further by advertisements on social media and e-wallet platforms.
Several lawmakers have also proposed stricter regulations for online gambling, as they said a total ban would only lead to the public heading to illegal operations.
The Department of Health (DOH) has flagged online gambling as a health issue, with President Ferdinand 'Bongbong' Marcos Jr. saying he will study calls to ban the industry. —AOL, GMA Integrated News
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
a day ago
- GMA Network
Philippine Consulate in New York confirms some Filipinos denied entry at U.S. Borders
Officials from the Philippine Consulate in New York, led by Consul General Senen T. Mangalile (center), addressed the media on border entry issues and provided guidance for undocumented Filipinos in the U.S. Photo by Dave LLavanes Jr. NEW YORK - The Philippine Consulate General in New York has confirmed that some Filipino travelers are denied entry at U.S. borders, often due to discrepancies in travel documents or past criminal records. Speaking during the Consulate's 'Media Hour,' New York Consul General Senen Mangalile said that in some cases, travelers' visas did not match the purpose they stated during border interviews. 'Some of them have visas that do not match what was revealed during the border interview. For example, they may have tourist visas but are suspected of planning to work. Others are turned away because of past criminal records. I'm not saying they were necessarily imprisoned, but there were items in their record that the Customs and Border Protection officers discovered. These are usually the two main reasons travelers are turned away at the border,' Mangalile explained. At present, less than ten cases are being monitored within the Consulate's jurisdiction. The Consulate is coordinating with the U.S. Immigration and Customs Enforcement (ICE) on the case of two Filipino detainees from Boston and Philadelphia, who have already served prison sentences and are now awaiting deportation proceedings. 'Thousands of individuals of all nationalities are being deported, and our kababayan are among them. It will take time. Deportation is a costly process. They need to purchase tickets, and in some cases, ICE officers have to escort people. Some flights may even have to be chartered. So, even if our kababayan offer to undergo voluntary deportation, once they are already in the system, they will have to wait for their turn to be removed from the country,' Mangalile said. Department of Foreign Affairs (DFA) spokesperson Angelica Escalona, in a separate interview, said she will ask for the verification of the information that there are Filipinos are being denied entry in U.S. borders. The Consulate, through the DFA, has funds to assist in the voluntary deportation of Filipinos, but these are available only on a case-by-case basis. 'I believe the DFA's position is very clear — it will be on a case-by-case basis. If there is no threat to the person's life or welfare, I don't think the government should shoulder the cost,' Mangalile clarified. The Consulate's Assistance-to-Nationals (ATN) section has also reported an increase in inquiries about voluntary departure. Callers are advised to consult the U.S. Department of Homeland Security (DHS) website, which outlines the process. According to DHS guidelines, undocumented immigrants without criminal records are encouraged to leave the country voluntarily to improve their chances of being accepted should they wish to return in the future. Mangalile reiterated the call of Philippine Ambassador to the U.S. Jose Manuel Romualdez for undocumented Filipinos to assess their options. 'I will reiterate what the ambassador said before all of this began. First, if you no longer have any hope of obtaining proper status and legal residency here in the United States, one of your options is to return to the Philippines. Going back to the Philippines is as simple as buying a ticket and boarding a plane," said Mangalile. "If your passport is not updated, you can come to us. If your passport has complications, then one option for you is to obtain a travel document and process your passport once you are in the Philippines. The advantage of this is that you will be going home without being arrested and therefore, theoretically, you will have the ability to return to the United States in the future — this is if you truly have no hope and no legal claim whatsoever," he added. The Consul General also said that "Now, if you see a basis to remain here in the United States, then that is something you will need to decide on, but what can truly help you is an immigration lawyer. We regret, as the Philippine government, that we cannot provide immigration lawyers for all those without legal status here in the United States.' — with a report from Michaela del Callar/BAP, GMA Integrated News
GMA Network
a day ago
- GMA Network
Maya to disable access to gaming sites via Games feature, effective Aug 16, 2025
Mobile wallet Maya has announced it will disable access to online gaming sites within its application on Saturday, August 16, 2026 at 8 p.m. In an advisory, Maya said until such time 'customers may withdraw any remaining funds from linked gaming accounts back to their Maya Wallet via the Games feature.' 'After the deadline, customers may withdraw their funds directly through the gaming provider's website or app,' it said. Maya's move was in compliance with the Bangko Sentral ng Pilipinas's (BSP) order for e-wallets to take down icons and links of online gambling platforms within 48 hours. 'Maya fully supports the Bangko Sentral ng Pilipinas (BSP) and other government efforts to ensure a safe, responsible, and resilient financial system for all Filipinos,' Maya said. 'We will always safeguard our customers and ensure uninterrupted availability of all our financial services. Maya will continue working closely with regulators and industry partners to uphold the highest standards of consumer protection and full compliance with all regulations,' it added. BSP Deputy Governor Mamerto Tangonan made the announcement during a hearing of the Senate Committee on Games and Amusement on Thursday, saying that the directive was given within the day. By Sunday, he said, e-wallets should be disconnected from online gaming platforms. 'The Monetary Board of the [BSP] has approved our policy that we asked... We ordered, directed the BSP supervising institutions to take down and remove all icons and links redirecting to gambling sites,' Tangonan said. — LA, GMA Integrated News
GMA Network
a day ago
- GMA Network
House hit with P16.8B budget cut in proposed 2026 budget
The House of Representatives got a P17.2 billion proposed budget for 2026 under the National Expenditure Program (NEP) which is a P16.8 billion cut from the current P34 billion budget. Based on the NEP submitted by the Department of Budget (DBM) and Management to Congress, the House was allocated P6.46 billion for personnel services and P10.74 billion for Maintenance and Other Operating Expenses (MOOE). Noticeably, there was also zero allocation for Capital Outlay for the House of Representatives. All these figures were down compared with the 2025 budget, wherein the House had P7.73 billion for Personnel Services, P22.4 billion for MOOE, and P4 billion for Capital Outlay. The House's P17.2 billion proposed budget for 2026 is broken down to the following: P6.22 billion for general management and supervision P649 million for administration of personnel benefits and P10.34 billion for House of Representatives Legislative Program The House of Representatives has been led by Speaker and Leyte Rep. Martin Romualdez, cousin of President Ferdinand Marcos, Jr., since 2022. For the 20th Congress, the President's son and Ilocos Norte Rep. Sandro Marcos has also been elected to serve as the House Majority Leader, the chief of the House Committee on Rules that schedules deliberations on proposed bills. Reforms In an earlier statement, Romualdez said the House will ensure that the national budget for 2026 will alleviate the lives of Filipinos. 'Bawat gastusin [ng gobyerno], dapat may pakinabang sa tao. Because a budget the people can trust is a government the people can believe in,' Romualdez said. (Government expenditures should benefit the people.) Romualdez also said that at least five significant reforms will be enforced by the House of Representatives in the scrutiny and enactment of the budget for fiscal year 2026. The House will remove the 'small committee' that collated institutional amendments, according to Romualdez. It will also open the Bicameral Conference Committee on the budget to the public and the media and civil society, people's organizations, and the private sector will also be invited to join budget hearings. Romualdez pointed out that the reforms seek to ensure full transparency and to involve the public through people's organizations, noting that the budget is the people's money. 'A budget is not just a spending plan—it is a mirror of our priorities and a measure of our accountability to the people. And because this is the people's money, the process of crafting it must be transparent, inclusive, and worthy of public trust,' Romualdez said. President Ferdinand ''Bongbong'' Marcos Jr. has urged members of Congress who will deliberate the proposed 2026 national budget to "swiftly enact" it. —VAL, GMA Integrated News
