This month, February 2024, Curaçao took a significant step forward in its gambling reforms by issuing its first licences under the new regulatory regime. This marked the next step of the re-regulation era for the island’s gambling sector, including the establishment of the Curaçao Gaming Authority (CGA), an independent body mandated by the government.

Under the incoming National Ordinance for Games of Chance (LOK) legislation, both B2C operators and B2B suppliers are now required to apply for direct licences with the Gaming Control Board (GCB). These new licences come with stringent controls, including heightened anti-money laundering measures and a mandate for a stronger local presence. Notably, B2C operators must have at least three employees occupying “key positions” working on the island.

Key provisions of the LOK encompass all gaming activities, including the issuance, suspension and withdrawal of licences, as well as promoting responsible gambling practices. One significant requirement is the submission of audited policies and procedures within six months of licence issuance, aligning with international standards expected of reputable gambling operators. These standards encompass player protection, dynamic anti-money laundering procedures, KYC (Know Your Customer) protocols, responsible gaming practices, and robust technical and information security setups.

The overarching goals of the LOK legislation are clear:

  1. Preventing and combating criminal activities
  2. Responsible gaming and protecting vulnerable persons, including minors
  3. Safeguarding Curaçao’s international reputation, especially in the iGaming industry

Expectations for Compliance Training in Curaçao

Globally, regulatory bodies are placing increasing emphasis on compliance training as a crucial component of ensuring adherence to regulatory standards. This is expected to be no different in Curaçao. Therefore, iGaming operators must prioritise implementing robust compliance training programmes, monitoring and managing training completions, and having processes and reporting mechanisms in place for audits.

Here are some best practices for iGaming operators in Curaçao to effectively manage compliance training:

  1. Central Policy Hub: Establish a centralised platform for updating internal policies and procedures. This ensures that all staff members have access to the latest compliance guidelines and regulations.
  2. Staff Training Initiatives: Develop comprehensive training initiatives tailored to different roles within the organisation. Training should cover topics such as responsible gaming practices, anti-money laundering procedures, and regulatory requirements specific to Curaçao.
  3. Utilise eLearning Management Systems (LMS): Implement an LMS to streamline the management of compliance training programmes. An LMS allows for the creation, delivery, and tracking of training modules, as well as generating reports to demonstrate compliance during audits.

How We Can Help

Amid all these changes to Curaçao’s gaming regulations, iGaming Academy is here to help. We’re keeping a close eye on what’s happening to ensure you have the tools and training materials needed, aligning compliance training with the new regulations.

We offer compliance training covering everything from responsible gaming, anti-money laundering, countering the financing of terrorism, and more. Our training materials are aligned with international regulations and provide a foundation for employees working in any market. However, our compliance experts are also developing jurisdictional content specifically for Curaçao, so you can assign tailored eLearning modules to employees working in the market.

We can also help you put in place the reporting infrastructure needed for audit – if you don’t have a suitable platform at present. Our LMS provides a centralised platform to deliver your compliance training and provides audit-ready evidence to demonstrate adherence to training requirements.

As we all await the arrival of Curaçao’s new LOK, you can keep up-to-date with the latest developments and our Curaçao specific courses by registering your interest here.

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