A group of lawmakers filed a resolution seeking an inquiry into alleged links of certain banks to illegal gambling operations.
House Resolution (HR) 1464 aimed to look into the operations of Maya Digital Savings Bank which also offers mobile wallet services amidreports that the platform carries links to various gambling apps that openly allows subscribers to participate in gambling activities.
Maya Bank and Maya Philippines, however, clarified that they are not engaged in any gambling operations.
“Maya Philippines facilitates digital payments for numerous merchants, including a few entities accredited by the Philippine Amusement and Gaming Corporation (PAGCOR). Our services are focused on providing secure payments from all sources like credit cards and wallet cash-in facilities for eligible customers.”
“We maintain strict compliance with the guidelines set by the Bangko Sentral ng Pilipinas, the Department of Information and Communications Technology (DICT), and PAGCOR to ensure user safety, security, and responsible use of financial service technologies.”
Majority Leader Erwin Tulfo and fellow ACT-CIS Party-list Reps. EdvicYap and Jocelyn Tulfo as well as Benguet Rep. Eric Yap and Quezon City Rep. Ralph Tulfo authored the House resolution.
In pushing for a congressional inquiry, Majority Leader Tulfo underscored the need for Congress to look into the “legality and ethics of offering such services,” as well as for the BSP to define its regulations pertaining to operations of the Maya platform’s links to gambling apps.
“This investigation will shed light on whether these gamblingactivities are conducted in compliance with our laws and regulations, and whether they truly serve the best interests of our citizens,” he said.
Tulfo said some of the games featured were baccarat, poker, bingo, fruit games, and similar forms of gaming where subscribers can place bets through Maya’s mobile wallet services.
He said the House probe will also determine “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.”
“Furthermore, if these gambling apps are permitted by law, it should be determined whether or not 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.
At present, the BSP allows at least six digital banks to operate: Maya, Uno, Tonik, CIMB, Union Bank and GoTyme Bank.
