The Governor of the Bangko Sentral ng Pilipinas (BSP) has issued a stark warning that the Philippines could face renewed scrutiny from the Financial Action Task Force (FATF) if unregulated online gambling is not brought under control.
The caution comes just months after the country was successfully removed from the FATF’s grey list in February 2025, a status it held for nearly four years.
During the 2025 Manila Tech Summit, BSP Governor Eli M. Remolona Jr. confirmed that the persistent issue of illegal e-gaming could jeopardize the country’s international financial standing.
A return to the grey list could negatively impact the nation’s financial credibility, banking relationships, and ability to attract foreign investment.
The warning is supported by recent data from the research firm The Fourth Wall, which showed that users quickly migrated to illegal websites after the BSP ordered the removal of gambling links from authorized platforms.
The report documented a 40% surge in activity on unregulated sites alongside a 70% decline in usage on regulated channels.
The BSP is urging cooperation from other relevant government agencies to address the problem, as it does not have direct oversight of online gambling operations.
The Philippines’ successful delisting from the grey list was achieved through significant reforms in anti-money laundering supervision and counter-terrorism financing efforts, and a reversal would represent a major setback for the country’s compliance with global financial standards.
