ACT-CIS Party-list Rep. Erwin Tulfo
House members led by ACT-CIS Party-list Rep. Erwin Tulfo want e-wallet applications investigated over reports that these facilitate gambling.
Tulfo’s call is embodied in House Resolution (HR) No.1464, which urges the House of Representatives to conduct an inquiry in aid of legislation into digital banking platforms with linkages to gambling applications.
During plenary session Tuesday afternoon, Nov. 14, Tulfo delivered a privilege speech to call attention to the issue. He particularly singled out Maya Digital Savings Bank, a prominent digital savings bank in the Philippines.
The deputy majority leader said it has come to his attention that Maya’s platform carries links to various gambling apps that openly allows subscribers to participate in gambling activities.
These gambling apps feature games such as baccarat, poker, bingo, fruit games, and similar forms of gaming where subscribers can place bets through Maya’s mobile wallet services.
“This question strikes at the core of our responsibility as lawmakers to protect the interests of the millions of subscribers who rely on Maya Digital Savings Bank for their financial transactions and digital wallet needs,” Tulfo said in his speech.
Tulfo, also a popular broadcast journalist, worried over the possibility that children may be playing these games.
He reckoned that these gambling links within Maya’s savings bank platform warrant a thorough probe by the House of Representatives, if only to determine the legality and ethics of offering such services.
Tulfo wondered whether or not the Bangko Sentral ng Pilipinas (BSP) was aware of the Maya platform’s links to gambling apps.
“This investigation will shed light on whether these gambling activities are conducted in compliance with our laws and regulations, and whether they truly serve the best interests of our citizens,” he said.
He said there was also a question on whether or not bank regulators should permit the presence of gambling apps within the digital platform of a savings bank, considering the potential ramifications on financial stability and the welfare of consumers.
At present, there are at least six digital banks that are permitted by the BSP to operate in the country — Maya, Uno, Tonik, CIMB, Union Bank and GoTyme Bank.
Furthermore, if these gambling apps are permitted by law, it should be determined whether or not the Philippine Amusement and Gaming Corporation (Pagcor) can effectively check and monitor these apps and, if necessary, exercise its regulatory powers to ensure that they operate within the bounds of the law, Tulfo said.
Filing HR No. 1464 along with Tulfo were ACT-CIS Party-list Reps. Edvic Yap and Jocelyn Tulfo, and Benguet lone district Rep. Eric Yap and Quezon City 2nd district Rep. Ralph Tulfo.