Editorial: Self-cleaning power

POSTED: 11/6/13 1:28 PM

Pirates of the Caribbean no longer have the run of the place in St. Maarten. As our front-page story shows, the RBC Bank has terminated its relationship with three companies linked to Atlantis’ beneficial owner Francesco Corallo because it fears that a continued business relationship with the casino boss could result in damage to its reputation.

The court ruling that justifies RBC’s decision to sever its ties with Corallo’s companies is a landmark decision: the days that any money was welcome in St. Maarten are gone.

While the country is the target of no fewer than three integrity investigations a report that our banks frown upon customers with a – in their eyes – questionable reputation, is news that should not go unnoticed in The Hague.

There is a lot of room for improvement in the field of integrity. The self-cleaning power of the banking system shows that it is not necessary to wait for an investigation to achieve results in this respect.

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