Philippine central bank warns online gambling could put country back on FATF grey list
The Philippines’ central bank, Bangko Sentral ng Pilipinas, has warned that if illegal online gambling persists, the country could be put back on the Financial Action Task Force’s grey list.
Speaking at the 2025 Manila Tech Summit, Governor of the Central Bank Eli M. Remolona Jr. said “yes” when asked if unregulated gambling could see the Philippines return to the global dirty money watch list, after being removed in February this year.
Despite this, Remolona Jr. was optimistic that illegal online gambling could be tackled in the country, avoiding a return to the grey list.
He said, “We hope that someone can do something about that. We do not have authority on that.”
Figures published by research firm The Fourth Wall revealed that after the bank ordered apps to delink from online gambling sites last week, activity on unregulated sites surged 40%, while regulated platforms recorded a 70% drop in players.
Philippine gambling regulator PAGCOR also reported that online gambling transactions fell by up to 50% over two days, after apps were told to delink. The regulator also stressed that it would support tighter regulations on online gambling.
Dig deeper
2025/02/25: Moody’s: Philippines is off FATF grey list but online gambling and crypto still present a risk
2025/08/14: Philippines Central Bank orders e-wallets to unlink from online gambling sites
2025/04/10: Brazil’s Central Bank powerless to regulate online gambling firms
2025/08/21: Philippine online gambling transactions fall 50% after e-wallet restrictions
Charlotte Capewell brings her passion for storytelling and expertise in writing, researching, and the gambling industry to every article she writes. Her specialties include the US gambling industry, regulator legislation, igaming, and more.
Verticals:
Sectors:
Topics:
