Villanueva calls for stricter BSP action on online lending apps linked to gambling

Senate Majority Leader Joel Villanueva called on the Bangko Sentral ng Pilipinas (BSP) to implement more stringent action against online lending apps amid concerns over their link to illegal online gambling.

Villanueva noted that digital financial platforms, including e-wallets and digital banks, must be strictly monitored to support the government's crackdown on illegal online gambling activities.

The Presidential Anti-Organized Crime Commission (PAOCC) has observed a direct correlation between rising cybercrimes and the proliferation of both online gambling and lending apps.

Villanueva expressed concern over former Philippine offshore gaming operation personnel transitioning to online gambling and questioned PAGCOR's screening processes and responsible gambling advocacy.

The Senate is set to hold an investigation regarding online gambling in the country, as announced by Senator Erwin Tulfo, chairman of the Senate games and amusement committee.

Villanueva disclosed that he received information about some employees of Philippine offshore gaming operators (POGOs) seeking electronic gaming licenses from PAGCOR for their new ventures.