{"id":64809,"date":"2025-08-07T09:50:08","date_gmt":"2025-08-07T09:50:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/64809\/"},"modified":"2025-08-07T09:50:08","modified_gmt":"2025-08-07T09:50:08","slug":"bsp-readies-stronger-safeguards-against-online-gambling","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/64809\/","title":{"rendered":"BSP readies ‘stronger safeguards’ against online gambling"},"content":{"rendered":"

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MANILA, Philippines \u2014 The Bangko Sentral ng Pilipinas (BSP) is finalizing new rules that will require stronger safeguards against \u201cgambling-related harm.\u201d<\/p>\n

The BSP said in a statement it is taking action to protect financial consumers from the risks associated with online gambling.<\/p>\n

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Also, the regulator added that the new rules are drawn up after public consultation and will apply to banks, e-wallets and other financial service providers that the BSP supervises.<\/p>\n

READ: Online gambling and erosion of social checks<\/a><\/p>\n

The central bank said the upcoming measures will include:<\/p>\n

Strict identity verification, including biometric checks, such as facial recognition, to ensure only eligible individuals can use their funds for online gambling,<\/p>\n

Daily limits on gambling-related transfers to reduce excessive financial losses,<\/p>\n

Time-based restrictions on gambling payments to help curb impulsive behavior, and<\/p>\n

User tools for setting personal spending caps, taking voluntary breaks, or self-excluding from gambling transactions.<\/p>\n

The BSP said safeguards aim to reduce the risks of addiction, fraud, and financial harm while promoting the responsible use of digital financial services.<\/p>\n

READ: Tax on online gambling possible by end-2025<\/a><\/p>\n

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\u201cThe BSP remains committed to maintaining a safe, secure, and inclusive digital finance ecosystem for all Filipinos,\u201d it added.<\/p>\n

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