The Gaming Control Board (GCB) of Curaçao has issued a robust rebuttal in opposition to allegations of corruption, fraud, and cash laundering in its playing licensing reform. The claims, introduced ahead by native politician Luigi Faneyte of the opposition Real Alternative Party, accuse the GCB of issuing licenses with out correct authorized authority and resulting in monetary mismanagement. Faneyte filed a report with the legal professional normal’s workplace on November 25, asserting that these practices have brought about important monetary losses.
Addressing Licensing Allegations
Faneyte’s allegations particularly focused Curaçao’s finance minister, Javier Silvania, suggesting that licenses had been being issued unlawfully. However, the GCB clarified that it completely manages the licensing course of, a accountability 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 said.
The GCB emphasised that its licensing course of includes a number of rigorous phases, together with doc verification, due diligence on decision-makers, and an analysis of enterprise plans and web sites. All interactions happen by the GCB’s on-line portal, making certain transparency and enabling candidates to trace their progress in actual time.
Financial Integrity and Fee Payment
In response to accusations of economic mismanagement, the GCB underscored that licensing charges are paid immediately into an official authorities checking account. “There is no scope for mismanagement. The assertion that funds may have been embezzled is therefore not correct,” the GCB asserted. Only after funds are confirmed is a license granted.
Enhancing Player Protections
The GCB additionally addressed current considerations 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 in opposition to the operator for failing to pay out participant winnings. The GCB clarified that participant complaints are presently managed by operators beneath their phrases and situations.
Looking forward, the introduction of the National Ordinance for Games of Chance (LOK) would require obligatory Alternative Dispute Resolution (ADR) mechanisms. These measures purpose to make sure unbiased evaluations of participant complaints and strengthen the general regulatory framework.
Foreign Compliance and Enforcement
Curaçao-licensed operators working internationally stay answerable for adhering to the legal guidelines of the jurisdictions in which they function. The GCB famous its restricted jurisdiction over such issues however depends on formal choices from competent international authorities to information its enforcement actions.
Moving Forward
The GCB is collaborating with world consultants to implement its new licensing framework successfully, which incorporates transitioning present licensees to provisional licenses beneath LOK by 2024. This phased method goals to make sure compliance with enhanced regulatory requirements.
As the GCB continues to modernize its oversight capabilities, together with exploring superior applied sciences, it stays steadfast in its dedication to transparency and accountability in Curaçao’s playing business.
Source:
“Curaçao gambling regulator refutes licensing reform corruption allegations“, igamingbusiness.com, November 29, 2024.
