Banco de Crédito del Perú (BCP) has updated the terms and conditions of its personal savings accounts, giving it the authority to close accounts used for gambling transactions without prior authorization.
Under the revised agreement, personal accounts cannot receive funds from third parties related to betting, lotteries, sweepstakes, lotteries or other games of chance unless approved by the bank. The same restriction also applies to political campaign donations processed through personal accounts without express consent.
If such activity is detected, BCP reserves the right to terminate the account and end its contractual relationship with the customer. The bank also clarified that it may close accounts used for operations that could harm BCP or third parties, accounts not used directly by the registered holder, or those failing to meet regulatory, security or due diligence requirements.
The move comes amid the rise of digital entrepreneurship in Peru, where individuals are increasingly organizing lotteries and prize draws through social media and collecting payments through personal bank accounts. As informal trading activities mix with gaming-style mechanisms, compliance risks for financial institutions have increased. The policy change reflects a broader effort by Peru’s financial system to strengthen oversight in response to the growth in digital transaction volumes and increased oversight of risk-sensitive sectors.
At the same time, Peru’s legislative branch is considering stricter controls on gambling advertising. The Congress of the Republic recently received Bill No. 13265, introduced by Congresswoman Susel Paredes, proposing a total nationwide ban on gambling promotion. The draft legislation would cover casinos, slot machines, sports betting (online and land-based) and internet gaming.
If passed, the measure would prohibit advertising across television, radio, print, digital media and public spaces. The restrictions would also extend to sponsorships, promotions, product placement and incentive-based marketing. Advertising would be banned in public transportation, billboards, sporting and cultural events, and any setting involving minors.
Lawmakers argue the proposal is aimed at reducing widespread exposure to gambling marketing, particularly among young people and adolescents, as Peru reassesses the social impact of rapid sector expansion.
