Supervision of casinos in the Caribbean Netherlands
De Nederlandsche Bank NV (DNB) supervises casinos in the Caribbean Netherlands.
The following themes are important for our supervision of the sector, on which relevant, current publications can be found at the bottom of this page.
Themes
Integrity supervision
DNB is tasked with supervising compliance with the Anti-Money Laundering and Anti-Terrorist Financing (BES) Act (Wet ter voorkoming van witwassen en financieren van terrorisme BES – Wwft BES) and the delegated regulations based on it by casinos in the Caribbean Netherlands.
The Wwft BES identifies as a service to which this Act applies: “offering the opportunity to compete for prizes and premiums in connection with the operation of hazard games, including gaming casinos”.
Under the Wwft BES, a casino must meet, among others, the following requirements:
- conducting customer due diligence
- reporting unusual transactions
Customer due diligence
Customer due diligence is an important element in the range of measures available to prevent money laundering and terrorist financing. Casinos must carry out customer due diligence on occasional transactions from $3,000. This also includes the monitoring of intended and actual transactions. The degree of scrutiny must be tailored to the risk posed by a particular type of customer, relationship, product or transaction.
More information on the Wwft BES can be found at this page.
We have issued a Good Practices Wwft BES document that provides guidance in complying with the Wwft BES.