Curaçao Regulatory Oversight Faces Scrutiny Over Gaming Licenses and AML Risks

The Curaçao Gaming Authority repeatedly approved gambling licenses even after its own assessors identified unanswered questions about applicants, according to confidential regulatory records examined by investigative platform Follow the Money. These applications were sometimes incomplete or vague, and in some cases, regulators could not clearly determine the source of an owner's wealth. Marcel Pheijffer, a professor of forensic accountancy, reviewed several assessments and concluded that licenses were granted while significant questions remained unresolved.

The findings suggest a potential failure in the regulatory process regarding money laundering risks within the gaming sector. The expert review noted that this approach would not be possible in the Dutch context, suggesting a serious lapse in due diligence.