Curaçao’s gambling sector is facing renewed scrutiny as financial forensic researcher Luigi Faneyte calls on the Public Prosecutor’s Office (OM) to launch a swift and comprehensive investigation into foreign financial and cryptocurrency flows linked to the industry.
According to the Curaçao Chronicle, Faneyte said recent disclosures involving millions of guilders in payments to foreign entities highlight the need for an independent criminal investigation, arguing that further delays are no longer justified.
The researcher, who previously submitted reports to the OM in 2024, has called for an examination of financial structures surrounding provisional online gaming licences, the involvement of foreign advisers, and payments processed through external service providers.
Among the issues raised are alleged cryptocurrency transactions involving Tron and Ethereum wallets, as well as the role of Czech payment provider Payment Execution s.r.o. in facilitating industry-related payments.
Faneyte said authorities should investigate who established the payment structures, which parties received or converted cryptocurrency, and whether commissions, transaction fees or other financial benefits were generated.
He also questioned whether the selection of foreign service providers followed appropriate procurement and oversight procedures, arguing that any irregularities involving public institutions would require further investigation.
Faneyte noted: “When substantial services are purchased on behalf of the country or a government institution, the applicable rules for procurement and contracting must be followed.
“If significant services were awarded without the required procurement procedures, proper authorization or adequate accountability, this is not merely an administrative matter. It could represent a serious violation of financial management rules and must be fully investigated.”
Faneyte also said he is continuing his financial forensic research into cryptocurrency and financial flows within Curaçao’s online gaming sector, with further findings expected to be published in the near future.
In recent years, several scandals have emerged involving Curaçao-licensed operators accused of illegal activity.
In June, the Curaçao Gaming Authority introduced a detailed cryptocurrency policy framework for holders of its business-to-consumer (B2C) gambling licences
