The Myth of Integrity in Curaçao’s Financial Sector

The Myth of Integrity in Curaçao’s Financial Sector

1 November 2025

Curaçao likes to present itself as a reliable financial center. Now and then, we hear about new strategies to promote “integrity,” new codes of conduct for banks, trust offices, and online gaming companies, and conferences where experts explain the importance of ethics for the island.

A recent article in the Antilliaans Dagblad highlighted this renewed focus on integrity in Curaçao’s financial sector (Antilliaans Dagblad, antilliaansdagblad.com, 2025). It all sounds promising — until you look at the reality.

In practice, Curaçao’s financial sector has been rocked by repeated scandals: banks involved in money laundering, trust offices facilitating tax evasion, and online gaming companies ignoring both rules and clients. Greed and materialism dominate, while conflicts of interest and political influence weaken any meaningful oversight.

A strategy that relies solely on “integrity” will not change much. The culture of this sector is deeply rooted in materialism: money comes first, and rules or ethics are seen as obstacles to be negotiated or bypassed. Enforcement is minimal, and international pressure often doesn’t translate into real local action.

In short, Curaçao can talk about integrity as much as it wants. Still, without fundamental reforms — independent supervision, consistent enforcement, transparency, and a genuine cultural shift — it will remain largely symbolic. Materialism, short-term profit, and entrenched interests make real change far more complex than a policy paper or symposium can deliver.

Miguel Goede