Senator Tulfo Demands E-Wallet Firms Ban Online Gambling Access
Senator Erwin Tulfo calls on e-wallet providers to voluntarily remove online gambling access, emphasizing corporate responsibility amid growing social concerns in the Philippines.
Senator Erwin Tulfo addresses concerns over e-wallet platforms' involvement in online gambling operations
Senate Committee Chair Calls for Voluntary Action from Financial Technology Companies
MANILA - Senator Erwin Tulfo, chairperson of the Senate Committee on Games and Amusement, issued a strong appeal on Thursday for financial technology companies to voluntarily remove online gambling access from their digital platforms, citing mounting social concerns.
The senator's call comes amid growing scrutiny of the digital gambling sector, which has seen significant growth alongside the rising revenues in the Philippine gaming industry.
Corporate Responsibility in Focus
"Companies shouldn't wait for legislation. You have a social responsibility, and we're already facing a crisis. The online gambling problem is a crisis," Tulfo emphasized during an ABS-CBN News Channel interview.
The senator specifically called out major digital payment platforms GCash and PayMaya, urging them to demonstrate corporate responsibility. This development occurs as Asian financial markets navigate regulatory challenges.
Upcoming Senate Hearings
Tulfo announced that representatives from fintech firms, government agencies, and stakeholders will be summoned to upcoming committee hearings. The initiative mirrors recent efforts to enhance accountability in various digital platforms.
Key Concerns Highlighted:
- Prevalence of online gambling advertisements on social media
- Misuse of government aid through gambling platforms
- Social impact on Filipino families
- Corporate accountability of financial technology firms
The freshman senator emphasized that the social costs of online gambling far outweigh any economic benefits, particularly highlighting concerns about the potential misuse of social welfare funds like the 4Ps (Pantawid Pamilyang Pilipino Program).