Curaçao is set to implement a sweeping reform of its online gambling sector with the introduction of the new National Ordinance on Games of Chance (LOK), expected to come into force by the end of 2024.
Central to this transformation is the newly empowered Curaçao Gaming Authority (CGA), which will assume full responsibility for licensing and regulating the jurisdiction’s digital gambling market.
The CGA will be armed with expanded powers to tackle financial crime, including money laundering and terrorism financing. In a recent briefing to the justice sector, the CGA outlined its enhanced role to key stakeholders including the Public Prosecution Office, the Financial Intelligence Unit, and the Joint Criminal Investigation Team.
Under the LOK, all prospective licensees will undergo rigorous integrity checks—covering the source of funds, shareholder transparency, and the qualifications of appointed compliance officers. Any indication of criminal involvement, such as fraud or money laundering, will result in immediate denial or revocation of a license.
Crucially, regulatory scrutiny will not end at the point of licensing. Operators must regularly report on financial transactions, internal incidents, and their compliance frameworks. The CGA will monitor adherence to anti-money laundering protocols and is empowered to impose sanctions ranging from fines to license revocation.
Despite the strengthened framework, questions remain over whether the CGA has sufficient resources to implement its mandate. With around 1,000 license applications already submitted and a team of just over 20 staff members, concerns have been raised about the regulator’s operational capacity. For context, the Dutch Gambling Authority employed 100 staff to process just 22 licenses over one year.
To address violations, the CGA will collaborate with judicial authorities. In serious cases, joint actions will be taken with the Public Prosecution Office, observing the principle of ne bis in idem, which prohibits dual penalties for the same offense. A Memorandum of Understanding (MoU) is being developed to formalize cooperation across agencies.
While the authority anticipates handling several hundred applications in the short term, it is also prioritizing international coordination—particularly in instances involving operators targeting foreign markets. In such cases, enforcement action may hinge on prior decisions from foreign regulators.
Curaçao’s government views the regulatory overhaul as a critical step toward rebuilding global trust in its gambling sector. The aim is to position the island as a credible and compliant jurisdiction for online gaming, while minimizing exposure to financial misconduct.
Source: Curacao Chronical
Image: Shutterstock
