Curaçao and Netherlands Unite to Combat iGaming Corruption
Curaçao and the Netherlands are collaborating on new gambling regulations. Their goal is to combat corruption and money laundering within the iGaming sector.
Dutch Support for Curaçao’s New Gambling Law
The Netherlands is actively supporting Curaçao in implementing its new National Ordinance on Gambling (LOK), which comes into effect on December 24, 2024.
A high-level meeting in Willemstad, involving Curaçao’s finance minister Javier Silvania, Dutch minister of justice and security David van Weel, and state secretary for kingdom relations Zsolt Szabo, highlighted the importance of this collaboration.
The Dutch gambling regulator, Kansspelautoriteit (Ksa), will work closely with the newly established Curaçao Gaming Authority (CGA) to share expertise and best practices, strengthening supervision and enforcement.
Joint Efforts to Tackle Financial Crime
The partnership extends to coordinated efforts between law enforcement organizations.
The Public Prosecution Service, the Financial Intelligence Unit (FIU Curaçao), and the Criminal Investigation Cooperation Team will collaborate to combat money laundering, fraud, and other illicit activities that have plagued Curaçao’s gambling sector.
These joint efforts are designed to ensure that operators comply with the new regulatory standards and that the region’s iGaming sector is free from criminal influence.
Curaçao’s Compliance Challenges and Recent Scandals
Minister Silvania expressed gratitude for the Netherlands’ support, acknowledging its role in shaping the LOK’s legal and operational structure. However, recent allegations of corruption within Curaçao’s gaming industry have cast doubt on the government’s ability to enforce these new laws.
Opposition politician Luigi Faneyte has accused Silvania and other Gaming Control Board members of issuing provisional licenses without proper oversight, and alleges that crypto casinos have been operating unregulated, facilitating money laundering.
The Path to a Transparent iGaming Sector
The LOK represents a significant step toward a modernized gambling sector, but recent scandals emphasize the need for robust enforcement mechanisms and transparency.
The success of the new regulations will depend on the CGA’s ability to deliver on the promises of accountability and navigate the challenges of the region’s deeply entrenched compliance issues. Semi-annual evaluations will monitor progress and address emerging challenges.
