BSP STATEMENT[/font][/size][/font]
[/font][/size][/font]
The Bangko Sentral ng Pilipinas (BSP) is taking action to protect financial consumers from the risks associated with online gambling. It is finalizing new rules, developed following public consultation, that will require banks, e-wallets, and other financial service providers to adopt stronger safeguards against gambling-related harm. [/font][/size]
[/font][/size]
The upcoming measures will include:[/font][/size]
[/font][/size]
Strict identity verification, including biometric checks, such as facial recognition, to ensure only eligible individuals can use their funds for online gamblingDaily limits on gambling-related transfers to reduce excessive financial losses[/font]
Time-based restrictions on gambling payments to help curb impulsive behavior[/font]
User tools for setting personal spending caps, taking voluntary breaks, or self-excluding from gambling transactions.[/font][/font][/size]
[/font][/size]
These safeguards aim to reduce the risks of addiction, fraud, and financial harm while promoting the responsible use of digital financial services.[/font][/size]
[/font][/size]
The BSP remains committed to maintaining a safe, secure, and inclusive digital finance ecosystem for all Filipinos.[/font][/size]
Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=126357.0
