Senate Majority Leader Joel Villanueva has appealed to the Bangko Sentral ng Pilipinas (BSP) for stronger action to keep in check online lending apps, the use of which is reportedly linked to the rise in cybercrimes and the proliferation of online gambling.
Villanueva said BSP regulatory oversight on online lending apps, electronic wallets, and digital banks should complement the efforts of law enforcement agencies in curbing the negative effects of online gambling, which the legislator is seeking a “total, unconditional ban.”
“Kapag pinagsama po ang iligal na online gambling at ang mapagsamantalang pautang ng mga online lending apps, siguradong malulugmok sa kumunoy ang ating mga kababayan. Mismong ang Presidential Anti-Organized Crime Commission (PAOCC) ang nakakita ng koneksyon sa pagtaas ng mga cybercrimes at paglaganap ng online gambling at online lending,” Villanueva said in a statement.
“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,” he continued.
Villanueva said he received information that some workers and bosses who previously were in the now-outlawed Philippine offshore gambling operations (POGO) have shifted to online gambling operations. Some POGO workers and bosses have reportedly sought electronic gaming licenses from the Philippine Amusement and Gaming Corp. (PAGCOR), the regulatory agency for gambling.
“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 said.
“Ang adiksyon po ay sakit. PAGCOR cannot just say “responsible gambling” and hope that gambling addiction would magically go away,” he continued.
On Wednesday, PAOCC executive director Gilberto Cruz said the agency observed a connection between the use of online lending apps and online gambling. According to the official, some victims were overseas Filipino workers who ended up securing loans from online lending apps after squandering their savings at online gambling platforms.
Earlier this month, Villanueva filed Senate Bill No. 47 which revokes “all general and special laws, decrees, executive orders, [and] rules and regulations” that govern online gambling.
Any individual who participates in outlawed online gambling might face a prison term of up to six months or be fined up to P500,000. Company officials, on the other hand, might face a maximum of five years imprisonment and P500,000.
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