According to the contractual update, BCP personal savings accounts may not receive funds from gambling activities carried out by third parties, nor contributions intended for political campaigns, unless there is express and prior authorization from the financial institution. If any of these unauthorized uses are detected, the bank is empowered to proceed with the closure of the account and terminate the contract with the client, without the need for prior notification.
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This modification is part of a broader set of grounds for closure that BCP already included in its contracts: operations that could harm the entity or third parties, lack of personal use of the account by the holder, and non-compliance related to regulatory requirements or financial security standards.
Why the measure affects digital entrepreneurs
The context surrounding this decision is key to understanding its real scope. In recent years, Peru has experienced a boom in informal ventures based on sweepstakes and raffles organized through Instagram, TikTok, and Facebook. In these schemes, organizers request direct transfers to their personal bank accounts, often through BCP, in exchange for numbers or chances to participate in raffles for appliances, vehicles, cash, or other prizes.
This business model operates in a gray area: without a formal gambling license, without clear tax oversight, and using personal accounts for movements that, in contractual terms, could now be considered a violation of the terms of the banking service. With the new clause, BCP has contractual backing to act against this type of use.
How much money the betting market moves in Peru
The gambling and betting sector in Peru represents a market in sustained expansion. Online betting houses, live gaming platforms, and informal social media sweepstakes move figures around $500 million dollars annually, according to sector estimates. This growth accelerated during the pandemic and has shown no signs of slowing down, which explains the urgency for financial institutions and Congress to establish clearer regulatory frameworks.
Peru’s Congress seeks to ban all betting advertising
At the same time, the Congress of the Republic is evaluating a legislative initiative with a greater impact: the total ban on gambling advertising in Peru. Bill 13265, presented by Congresswoman Susel Paredes, proposes to veto any type of commercial communication related to casinos, slot machines, in-person and online sports betting, as well as internet gambling.
The proposal is not limited to traditional media: it covers television, radio, written press, digital platforms, public spaces, transportation, billboards, and sporting or cultural shows. It also seeks to eliminate indirect forms of advertising, such as sponsorship of teams or events, product placement, and any incentive that encourages participation in betting.
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What affected BCP account holders should do
If a person regularly organizes sweepstakes or raffles and receives payments in their personal BCP account, the practical recommendation is to take several preventive actions. First, review the updated terms and conditions of the savings account contract. Second, evaluate the possibility of formalizing the activity through a legal entity and request the bank to open a business account under the corresponding category. Finally, consult with a legal or accounting advisor about the tax and regulatory implications of operating in the entertainment and gaming sector.
Operating outside the contractual terms not only exposes the holder to account closure but also to potential legal consequences if the activity does not have the corresponding permits from the Ministry of Foreign Trade and Tourism (MINCETUR), which is the gambling regulatory body in Peru.
A regional trend: banking and betting under scrutiny
BCP’s stance is not an isolated phenomenon in the region. In Colombia, Chile, and Argentina, banks have reinforced their compliance policies to prevent personal accounts from being used as collection channels for unregulated gambling activities. International organizations such as the Financial Action Task Force (FATF) have pointed out that the gambling sector represents a risk vector for money laundering, which pressures financial entities to establish stricter controls over the origin and destination of funds.
Financial regulation and gambling: a debate that is just beginning
The temporal coincidence between BCP’s contractual modification and the progress of Bill 13265 in Congress suggests that Peru is at a turning point in terms of gambling regulation. The pressure comes from two fronts: the financial system, which seeks to shield itself against unauthorized uses of its products, and the legislative branch, which attempts to reduce public exposure to content that encourages betting.
What is clear is that the informal ecosystem of social media sweepstakes, which until now operated with relative freedom, faces a landscape of greater banking and legal scrutiny. The coming months will be decisive in knowing how far these restrictions go and how a market that moves hundreds of millions of dollars a year will adapt.
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