The Bangko Sentral ng Pilipinas (BSP) has warned that unregulated online gambling could put the Philippines back on the Financial Action Task Force (FATF) grey list.
BSP Governor Eli M. Remolona Jr. raised the concern at the 2025 Manila Tech Summit, noting that illegal e-gaming operations remain widespread. When asked if weak regulation might prompt FATF scrutiny, Remolona replied: “Yes. We hope that someone can do something about that.”
Although the BSP does not directly regulate online gambling, the governor stressed that unchecked activity could undermine the country’s financial credibility.
A recent study by sociocultural research firm The Fourth Wall highlighted the growing problem. After the BSP ordered licensed platforms to remove gambling links, many users shifted to illegal websites. The report found a 40% increase in traffic on unregulated sites and a 70% drop in activity on regulated operators.
The Philippines only exited the FATF grey list in February 2025, after nearly four years under international monitoring. A return could affect banking relationships, foreign investment, and the country’s global reputation.
Remolona urged closer cooperation among government agencies to curb illicit gambling channels and protect the progress made in anti-money laundering and counter-terrorism financing reforms.
