The Gaming Control Board (GCB) of Curaçao has issued a strong rebuttal against allegations of corruption, fraud, and money laundering in its gambling licensing reform. The claims, brought forward by local politician Luigi Faneyte of the opposition Real Alternative Party, accuse the GCB of issuing licenses without proper legal authority and leading to financial mismanagement. Faneyte filed a report with the attorney general’s office on November 25, asserting that these practices have caused significant financial losses.
Addressing Licensing Allegations
Faneyte’s allegations specifically targeted Curaçao’s finance minister, Javier Silvania, suggesting that licenses were being issued unlawfully. However, the GCB clarified that it exclusively manages the licensing process, a responsibility it has held since 2020 when the Minister of Finance delegated this authority.
“The GCB has the authority to grant, amend, suspend temporarily, revoke, or deny licenses, as well as attach terms and conditions to licenses. The allegation that the GCB lacks the legal authority to grant licenses is therefore incorrect,” the board stated.
The GCB emphasized that its licensing process involves multiple rigorous stages, including document verification, due diligence on decision-makers, and an evaluation of business plans and websites. All interactions occur through the GCB’s online portal, ensuring transparency and enabling applicants to track their progress in real time.
Financial Integrity and Fee Payment
In response to accusations of financial mismanagement, the GCB underscored that licensing fees are paid directly into an official government bank account. “There is no scope for mismanagement. The assertion that funds may have been embezzled is therefore not correct,” the GCB asserted. Only after payments are confirmed is a license granted.
Enhancing Player Protections
The GCB also addressed recent concerns stemming from the bankruptcy ruling involving Curaçao-licensed operator BC.Game. The Foundation for the Representation of Victims of Online Gaming (SBGOK) had filed a case against the operator for failing to pay out player winnings. The GCB clarified that player complaints are currently managed by operators under their terms and conditions.
Looking ahead, the introduction of the National Ordinance for Games of Chance (LOK) will require mandatory Alternative Dispute Resolution (ADR) mechanisms. These measures aim to ensure independent evaluations of player complaints and strengthen the overall regulatory framework.
Foreign Compliance and Enforcement
Curaçao-licensed operators operating internationally remain responsible for adhering to the laws of the jurisdictions in which they operate. The GCB noted its limited jurisdiction over such matters but relies on formal decisions from competent foreign authorities to guide its enforcement actions.
Moving Forward
The GCB is collaborating with global experts to implement its new licensing framework effectively, which includes transitioning existing licensees to provisional licenses under LOK by 2024. This phased approach aims to ensure compliance with enhanced regulatory standards.
As the GCB continues to modernize its oversight capabilities, including exploring advanced technologies, it remains steadfast in its commitment to transparency and accountability in Curaçao’s gambling industry.
Source:
“Curaçao gambling regulator refutes licensing reform corruption allegations“, igamingbusiness.com, November 29, 2024.