WILLEMSTAD – Illegal gambling and the informal economy continue to play a major role in Curaçao’s money-laundering risk profile, according to the Caribbean Financial Action Task Force (CFATF) evaluation.
The report estimates that illegal lotteries alone generate annual proceeds far exceeding those of legal operators. These funds often circulate outside the formal banking system or are funneled through underground credit and remittance networks.
The informal economy, which expanded significantly during previous economic downturns, further complicates oversight. Informal car imports and unlicensed financial services have already featured in laundering cases investigated by authorities.
The CFATF concludes that addressing money laundering in Curaçao requires not only financial supervision, but also broader economic and enforcement policies targeting the informal sector.