Tulfo to BSP: Cut e-wallet links to online gambling or face contempt

Senator Erwin Tulfo issued a stern ultimatum to the Bangko Sentral ng Pilipinas (BSP), warning that its Deputy Governor Mamerto Tangonan could face contempt charges if links between electronic wallets (e-wallets) and online gambling apps are not severed by Sunday, 17 August.

Tulfo made the warning during the inaugural hearing of the Senate Committee on Games and Amusement on Thursday, as the panel tackled the growing concern over the rise of online gambling and its links to financial technology platforms.

At the hearing, the BSP said it had already directed e-wallet providers, including GCash and Maya, to cut ties with online gambling platforms within 48 hours from 14 August.

“If I see a single link to gambling apps, I will cite you in contempt. The committee is serious — we have a problem, we have a crisis,” Tulfo said during the hearing.

The senator emphasized that he is taking the BSP at its word, and even gave the agency additional time to comply.

“I’m taking your word on this, we’ll give you actually more than 48 hours. So Sunday morning, we will not see online gambling games anymore, and no more links of any sort will be accessible on e-wallets,” he said. 

Tulfo also called on the BSP, the Philippine Amusement and Gaming Corporation (PAGCOR), and law enforcement agencies to present “clear and concise” measures to address the worsening social issues associated with online gambling in future hearings.

“We want a clear and concise solution. We are talking now because majority of us want a total ban on online gambling while you are asking for regulation due to foregone revenues,” Tulfo said. 

“From the Senate’s end, we are inclined to ban it because social ills outweigh the income benefits. If you ask us, we want to stop online gambling right here, right now. But we will hear every side.”