Manila – A resolution has been filed by lawmakers in the Philippine House of Representatives to investigate digital banking platforms, particularly Maya Digital Savings Bank, for their connections to gambling applications. House Resolution (HR) 1464, spearheaded by House of Representatives Majority Leader Erwin Tulfo, ACT-CIS Party-list Reps. Edvic Yap and Jocelyn Tulfo, Benguet Rep. Eric Yap, and Quezon City 2nd District Rep. Ralph Tulfo, was filed on Monday. The resolution aims to scrutinize Maya's operations, which include mobile wallet services and links to various gambling apps.
According to Philippines News Agency, Majority Leader Tulfo, who spoke in a privilege speech on Tuesday, Maya's digital platform includes links to gambling activities such as baccarat, poker, bingo, and other betting games. He expressed concern about the impact of these links on Maya's subscribers, who use the platform for financial transactions and digital wallet services. Tulfo questioned whether the Bangko Sentral ng Pilipinas (BSP) is aware of Maya's integration of gambling apps into its platform and whether these activities comply with Philippine laws and regulations.
Tulfo highlighted the broader issue of whether bank regulators should allow gambling apps within a savings bank's digital platform, considering potential effects on financial stability and consumer welfare. Of the six digital banks authorized by the BSP in the Philippines – Maya, Uno, Tonik, CIMB, Union Bank, and GoTyme Bank – only Maya includes gambling app links in its platform. The inquiry will also examine the role of the Philippine Amusement and Gaming Corp. (PAGCOR) in overseeing these gambling apps, ensuring they operate within legal boundaries. The investigation underscores the need for transparency, legality, and consumer protection in the evolving digital banking and financial services sector in the Philippines.