The new legislation will be essential in fixing some of the region’s long-term difficulties and recovering the trust of the international community.
The Netherlands and Curaçao have launched a joint effort to support the successful implementation of Curaçao’s recently passed National Ordinance on Gambling (LOK).
The law, which goes into effect on December 24, 2024, aims to improve oversight, prevent money laundering, and address widespread corruption. However, recent controversies have cast doubt on Curaçao’s government’s ability to enforce these new legislation.
The collaboration will help Curaçao’s fledgling regulator
Curaçao’s finance minister, Javier Silvania, joined Dutch minister of law and security, David van Weel, and state secretary for kingdom relations, Zsolt Szabo, at a recent high-level meeting in Willemstad. The discussions emphasized the importance of cooperation with the Netherlands in establishing a fair, transparent, and well-regulated gambling business.
Dutch gambling regulator Kansspelautoriteit (Ksa) will work closely with the newly formed Curaçao Gaming Authority (CGA) to share experience and best practices. This collaboration will help to increase oversight and enforcement to ensure that operators meet the new regulatory criteria. Semi-annual reviews will assist in tracking progress and addressing developing difficulties.
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The cooperation includes envisions collaboration among law enforcement agencies such as the Public Prosecution Service, the Financial Intelligence Unit (FIU Curaçao), and the Criminal Investigation Cooperation Team. These organizations will join forces to combat money laundering, fraud, and other illegal activities that have long plagued Curaçao’s casino industry.
Curaçao struggles with long-standing compliance issues.
Minister Silvania expressed gratitude for the Netherlands’ assistance in creating the LOK’s legal and operational structure. This display of confidence comes at a critical moment for Curaçao, following recent charges of wrongdoing in the country’s gambling industry. Brewing crises have raised questions about whether these improvements can restore trust in a jurisdiction that is frequently blamed for harboring problematic operators.
The latest scandal erupted after Luigi Faneyte, an opposition lawmaker and financial forensic investigator, accused Silvania and other Gaming Control Board members of giving provisional licenses without adequate scrutiny. He further claims that cryptocurrency casinos ran uncontrolled operations, permitting large-scale money laundering and operated with impunity.
While the LOK represents a big step toward a modernized, future-oriented gambling sector, recent scandals highlight the importance of strong enforcement procedures and transparency in Curaçao-Netherlands collaboration. Success will be determined by the CGA’s ability to deliver on its promises of accountability while negotiating the region’s deeply entrenched compliance concerns.
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