Senate Calls for Action on Online Lending Apps Linked to Gambling
Senate Majority Leader Joel Villanueva has urged the Bangko Sentral ng Pilipinas (BSP) to take firm action against online lending apps linked to online gambling. He warned that this dangerous combination could drag Filipinos into a financial quagmire.
In his recent statement, Villanueva emphasized the importance of BSP’s regulatory oversight over online lending platforms, e-wallets, and digital banks. He stressed that such oversight is crucial to curb the growing negative impact of online gambling in the country.
“Regulatory agencies must exercise their oversight to support our law enforcement bodies and do their fair share in slowing down the rampant use of online gambling platforms,” Villanueva said. He added, “When illegal online gambling and exploitative loans from online lending apps are combined, our countrymen will surely sink into a quagmire.” Villanueva also reiterated his call for a total ban on online gambling activities.
Link Between Online Gambling and Lending Apps
The Senate leader cited a recent report from the Presidential Anti-Organized Crime Commission (PAOCC), which highlighted the connection between the surge of cybercrimes and the rise of online gambling and lending platforms. According to PAOCC Executive Director Gilberto Cruz, cybercrime law enforcers receive over 156,000 complaints every month, with lending apps constituting a major portion of these cases.
Cruz further noted the observed link between online gambling operations and digital lending apps, suggesting a coordinated growth of these illicit activities.
‘Pogos Shifting to Online Gambling Operations’
Villanueva revealed information that some employees and even employers of Philippine offshore gaming operators (Pogos) have shifted their focus to running online gambling operations. Some of these individuals reportedly sought electronic gaming licenses from the Philippine Amusement and Gaming Corporation (Pagcor).
Following President Ferdinand Marcos Jr.’s 2024 declaration of a total ban on the Pogo industry, questions remain about how Pagcor screens and monitors its licensees. “How does Pagcor actually screen and monitor its licensees to ensure that these same individuals are not resurfacing under a different name or company? What concrete actions does Pagcor take when irregularities are discovered?” Villanueva asked.
He also emphasized that addiction is a disease, criticizing Pagcor’s reliance on the concept of “responsible gambling” as insufficient to address gambling addiction.
Legislative Efforts to Combat Online Gambling
In 2022, Villanueva filed Senate Bill No. 1281, known as the “Anti-Online Gambling Act,” which aims to penalize and prohibit all forms of online gambling in the Philippines. The senator recently reintroduced this bill as Senate Bill No. 47 in the 20th Congress.
Villanueva’s strong stand underscores the urgent need for coordinated measures between regulatory agencies and law enforcement to protect Filipinos from the dual threats of online gambling and predatory lending.
For more news and updates on online lending apps linked to gambling, visit Filipinokami.com.
