The Philippine Amusement and Gaming Corp. (Pagcor) is expanding its anti-money laundering network to include banks and e-wallets, stepping up oversight of the country’s fast-growing electronic gaming sector.

The state-run regulator published a memorandum detailing amendments to its existing regulatory framework over the weekend. The modified rules aim to eliminate operational inconsistencies, clarify oversight, and eliminate friction among existing policies, according to Pagcor. A central pillar of the update is a deeper coordination with the Bangko Sentral ng Pilipinas (BSP).

Under the new guidelines, central bank-supervised financial institutions accredited as support service providers, including payment gateways, will be governed by Anti-Money Laundering Council (AMLC) rules relevant to their specific business activities.

The regulator warned that any non-compliance reported by the BSP to Pagcor’s AML Supervision and Enforcement Department could trigger regulatory penalties.

Pagcor expanded the definition of these financial institutions to ensure no digital payment channel evades the regulatory net. The scope now explicitly covers entities licensed and supervised by the central bank, including traditional banks, digital banks, non-bank financial institutions, and electronic money issuers.

Even as oversight tightens, the regulator is attempting to reduce bureaucratic hurdles for financial companies. To streamline the accreditation process, applicants can submit a valid BSP-issued license and proof of compliance with central bank fit-and-proper standards instead of undergoing separate, redundant probity checks by Pagcor. The agency is also cutting paper-heavy requirements by deleting references to personal disclosure statements across several sections of the framework.

However, the reduction in paperwork is balanced by new fiscal demands and tighter controls on industry messaging. Pagcor imposed a new ₱50,000 processing fee for applications to relocate, expand, or reduce gaming venue space within the same building, compound, or complex.

Marketing rules are also tightening. Pagcor removed a previous clause that allowed general announcements to be published without prior oversight.

Additionally, provider accreditations can now be suspended or revoked if an operator takes inappropriate actions that cause irreparable damage to Pagcor’s credibility or the broader local gaming industry.

For central bank-regulated institutions, Pagcor will coordinate directly with the BSP to implement preventive suspensions or cancellations.