Philippine central bank orders e-payment firms to tighten merchant vetting after illegal casinos found

Bangko Sentral ng Pilipinas has directed e-payment providers to improve merchant due diligence after discovering thousands of illegal businesses, including online casinos disguised as salons and bakeries, on their platforms. The move aims to curb fraud and money laundering, signaling heightened regulatory scrutiny of the digital payments sector. The extent of enforcement and platform compliance remains uncertain.