The Central Bank of the Philippines (BSP) warns that if unregulated online gambling continues to spread, the Philippines may face a re-evaluation by the Financial Action Task Force (FATF). Central Bank Governor Eli M. Remolona Jr. stated at the 2025 Manila Technology Summit that ongoing issues related to illegal electronic gambling could lead the Philippines back to the grey list, emphasizing, "Yes, this situation could reverse our status."
Reports indicate that since the central bank requested authorized platforms to remove gambling links, a large number of players have turned to unregulated sites, resulting in a 40% increase in illegal gambling activities, while the usage of regulated operators has decreased by 70%.
Previously under FATF supervision for nearly four years, the Philippines was officially removed from the grey list in February 2025. Being relisted could weaken the national financial reputation, affecting international banking relations and the foreign investment environment.
Remolona pointed out that the Central Bank of the Philippines does not directly regulate the online gambling industry but calls for action from relevant regulatory authorities. He stated, "We hope that relevant departments can join forces to address the issue of illegal gambling and ensure that the Philippines complies with global financial standards."
The Central Bank of the Philippines emphasizes that combating illegal online gambling is not only necessary for maintaining financial security but also crucial for the country's reputation in the international anti-money laundering and anti-terrorism financing system.
