SEN. Risa Hontiveros yesterday called on e-wallet companies to adopt measures to “self-regulate” amid growing complaints pointing to how mobile phones and other electronic gadgets have made online gambling too accessible.
In a statement, Hontiveros lamented how e-wallet firms have kept “silent” on the issue.
She said her office has been receiving messages from individuals desperately seeking help on how to deal with their loved ones who have become addicted to online gambling, are buried in debt, and in some instances, have even taken their own lives “due to this vice.”
“In this situation, it’s not enough that we follow the law. We also need to care. We need to act together,” she said.
Hontiveros said it was for this reason that she filed a bill seeking to limit access to online gambling, particularly to e-wallets and super apps.
She said e-wallet firms should start imposing tighter measures to regulate the use of their applications in online gambling while waiting for the Bangko Sentral ng Pilipinas (BSP) circular containing the guidelines on the use of digital wallets in bet placements.
The BSP has said that it is drafting a circular that will protect consumers from the proliferation of online gambling.
“The circular would seek to require BSP-supervised institutions, primarily banks and electronic money issuers, to better protect users of their digital platforms from these risks. Protection may come in the form of various limits to gaming access,” the BSP has said.
It said that it wants to strike a balance between protecting consumers while still allowing digital payments to be used by licensed businesses.
Sen. Sherwin Gatchalian said the BSP move is a “welcome development” and a “monumental step toward responsible use of digital services, affirming the urgent need to strictly regulate online gambling.”
“Daily caps, time limits, and biometric verification can help curb the alarming rise of gambling addiction, especially among the youth,” he said.
Gatchalian has filed a bill calling for stricter regulations in the use of e-wallets and other apps in online gambling.
“I’m also calling for key safeguards such as the AMLC registration of operators and the protection of financial health, among others. Kailangan magkaisa ang lahat ng sangay ng gobyerno para sugpuin ang salot ng online gambling (This calls for a whole of government approach to stop the menace of online gambling),” he said.
