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November 28, 2023

Maya Bank slams gambling links amid legislative scrutiny

Maya Bank Inc. (MBI) and Maya Philippines Inc. (MPI), subsidiaries of Voyager Innovations Inc., vehemently denied allegations of involvement in gambling operations raised by lawmakers, including House Deputy Majority Leader Erwin T. Tulfo and ACT-CIS Partylist Reps. Edvic G. Yap and Jocelyn P. Tulfo.

The lawmakers, led by Erwin T. Tulfo, have initiated House Resolution 1464 urging a legislative inquiry into digital banking platforms with alleged ties to gambling applications.

Tulfo expressed concerns about MBI’s operations, claiming that its platform carries links to various gambling apps facilitating activities such as baccarat, poker, bingo, and fruit games through mobile wallet services.

Tulfo emphasized the need for a thorough investigation, raising questions about whether regulators should permit gambling apps within the digital platform of a savings bank, citing potential implications on financial stability and consumer welfare.

The legislative inquiry seeks to delve into the core responsibilities of lawmakers in protecting the interests of millions of Maya Digital Savings Bank subscribers.

In a joint statement, MBI and MPI clarified that they strictly adhere to regulatory guidelines set by the Philippine Amusement and Gaming Corp. (Pagcor) and the Bangko Sentral ng Pilipinas (BSP), as registered entities under the BSP (see [BSP COR](https://www.bsp.gov.ph/PaymentAndSettlement/COR.pdf)).

The companies stress their focus on secure digital payments for various merchants, including Pagcor-accredited entities, ensuring compliance with guidelines from the BSP, the Department of Information and Communications Technology (DICT), and Pagcor to prioritize user safety, security, and responsible use of financial service technologies.