BCP to close accounts linked to unauthorized raffles and betting
Banco de Crédito del Perú (BCP), the country's leading financial institution, has implemented a substantial modification to its savings account contracts for individuals, directly impacting the management of funds related to gambling. Following this update, the entity is now authorized to unilaterally close personal accounts used to channel income from collections, raffles, draws, lotteries, games of chance, and betting that do not have explicit and prior authorization from the bank. This measure aims to strictly separate the personal use of accounts from activities that, by their nature, require specific commercial or regulatory structures.
The new contractual provision is based on Article 1430 of the Peruvian Civil Code, allowing the bank to terminate the contract immediately once the decision is communicated to the client. The entity's focus is on detecting behaviors that distort the purpose of an individual savings account, explicitly including the receipt of third-party deposits linked to draws or betting schemes. In practice, this represents a direct blow to subscription models and digital ventures operating through social media, which often use personal accounts to raise funds from their followers under the promise of prizes or periodic draws.
In addition to restrictions on games of chance and betting, BCP has extended this prohibition to the collection of contributions for political campaigns and mass fundraising without consent. According to the entity, using personal accounts for these purposes can compromise the security standards, due diligence duties, and regulatory requirements to which banks are subject. The update also contemplates account closure in cases where a lack of personal use by the account holder is verified or operations that could harm the integrity of the bank or third parties are identified.
This decision by BCP is part of a broader context of increased vigilance over undeclared cash flow and the prevention of money laundering in unregulated sectors. For users and organizers of gambling-related activities, the measure implies the need to migrate to legal account structures or request specific permits, at the risk of losing access to their financial services and the immediate termination of their banking contracts. With this move, Peruvian banking reinforces its barriers against informality in the ecosystem of digital betting and draws.
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