The implementation of the LOK (the country’s new regulatory framework) remains on track even amidst the mass departures of the Curacao Gaming Authority’s Supervisory Board, according to a defiant message from the regulator.
Following the board’s resignation in mid-September, Prime Minister Gilmar Pisas had reportedly taken direct oversight of the board to fulfill plans for Curacao gambling licences to enter a new era of higher compliance standards and regulatory governance.
However, the government has since denied Pisas’ intervention, stating that management of the CGA must fall under the oversight of the Ministry of Justice. According to the determination, the board’s ‘reshaping’ is fairly standard, given it was shifted from the Ministry of Finance to the Ministry of Justice, a move that took place in August’.
The CGA’s Aideen Shortt told iGaming Expert: “The transfer of ministerial responsibility from Finance to Justice is a natural progression as Curaçao’s regulatory framework matures. Having built the legal and operational foundations for the new regime, the CGA is now focused on supervision and monitoring – areas that naturally fall within the Justice portfolio.”
The shifting of the CGA’s supervision from the Finance to the Justice department will be welcomed by many, given the challenges that Curacao’s Finance Minister, Javier Silvania, has faced.
At the end of the last year, forensic investigator Luigi Faneyte filed a report that laid out allegations against Silvania of misconduct, corruption, fraud, embezzlement and money laundering related to the issuance of online gambling licenses.
One of the key allegations levelled against Silvania related to the process of the issuing of “provisional” online gambling licences, with allegations that several had been granted prior to the Lok being enacted, which led to criticism around their legitimacy.
Just last week, Quincy Girigorie, leader of the opposition party PAR, lambasted Silvania, claiming that his dispute with the head of the Tax Receiver’s Office, Alfonso de Jesús Trona, “strikes at the heart of Curaçao’s democratic integrity”.
This dispute escalated at the end of last month when an audio clip was leaked, which captured a spat between the two.
The clip, which has gone viral across Curacao, features the two power figures firing allegations of corruption against each other.
Following the leak, PAR leader Quincy Girigorie took to a press conference to express the seriousness of the situation as he emphasised that “for the first time in our history, a senior official has publicly stated that a Minister of Finance has committed criminal offences.”
Despite the political tensions, the CGA issued assurances that the process to appoint new members of the board is underway, and the implementation of the Lok remains on course and uninterrupted.
Shortt stated: “Supervision and governance within the CGA continue uninterrupted. The Authority remains fully functional and independent, continuing to implement and enforce Curaçao’s new regulatory framework under the LOK.
“Despite sensationalist headlines and fake-news articles, there is no delay or deviation in the rollout of the LOK, and no disruption to the CGA’s licensing or compliance programmes.”
The Ministry of Finance is headed up by Shalten Hato, who has sought to take a tougher approach to money laundering in the country, publicly emphasising that there has been an increase in prosecutions for the crime.
During a recent Parliamentary meeting, he outlined statistics that revealed that 26 individuals had been prosecuted for money laundering. Furthermore, he also detailed that money laundering cases linked to drug trafficking had risen last year – as he sought to showcase a tougher stance against illicit money.
