The Bangko Sentral ng Pilipinas (BSP) is preparing to introduce new regulations requiring biometric identity checks and tighter payment restrictions for online gambling transactions. Announced this week, the measures aim to curb gambling-related harm and strengthen consumer protection in the digital finance sector.
Under the proposed rules, banks and digital wallet providers will need to implement facial recognition and other biometric identity verification systems before processing payments tied to online gambling. The BSP also plans to mandate several spending control features, including daily transaction limits, time-based restrictions, and customizable tools that allow users to set personal limits, temporarily suspend gambling-related payments, or block them entirely.
The central bank emphasized that the policy is intended to “reduce the risks of addiction, fraud, and financial harm, while promoting the responsible use of digital financial services.”
The policy reflects growing concern over the societal impact of online gambling in the Philippines. President Ferdinand R. Marcos Jr. recently warned that the increasing availability of digital gambling platforms was endangering Filipino families. His comments came as reports of gambling-related debt and fraud have continued to rise.
The Department of Finance has also proposed complementary measures, including new taxation frameworks for digital gambling platforms and restrictions on their accessibility. Finance Secretary Ralph Recto has said such steps could be in place by the end of 2025.
While the BSP has not yet issued a timeline for enforcement, officials indicated that the implementation schedule will be announced in the coming weeks. Industry stakeholders are encouraged to review the proposed requirements and prepare to align with the forthcoming circular once finalized.
Sources: Gambling Insider, Philippine News Agency, Philstar, Inquirer.net
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By the ID Tech Editorial Team
