Macao

New Documents

Macau Judiciary Police Arrest Woman for Laundering Proceeds of Wine Smuggling

The Macau Judiciary Police announced the arrest of an individual accused of money laundering and smuggling liquor.

December 7, 2022

Macao GIF Provides Statistics on STRs from January to September

The Financial Intelligence Office of Macao published statistics on the submission of suspicious transaction reports from January 2022 to September 2022, highlighting a slight decline from the same period in 2021.

October 19, 2022

Macao FIU Publishes 2022 STR Statistics

August 23, 2022

Macao GIF Holds 2022 AML/CTF Working Group Plenary

June 17, 2022

Macao GIF Reports Increase in Suspicious Transaction Reports Received

June 17, 2022

News

Weekly Roundup: US Banks Rejecting Dollars from Iraq, ‘Unknown’ Option Threatens US Ownership Database, and More

FinCEN ties blacklisted cryptocurrency platform to Binance, German judge criticizes Wirecard auditor, and more, in the weekly roundup.

January 20, 2023

Midweek Roundup: US Supreme Court Reviews Halkbank Case, Whistleblowers Dial FinCEN, and More

FinCEN targets Moscow-based cryptocurrency exchange, blacklisted Russian bank sets sights on Crimea, and more, in the midweek roundup.

January 18, 2023

Midweek Roundup: New York Sues Trump, Retail Cryptocurrency Scam Reports Double, and More

September 21, 2022

Midweek Roundup: Suspicious Wires Sail Through Canadian Banks, US Senator Urges AML Upgrades at Wells Fargo, and More

June 1, 2022

Weekly Roundup: US Officials Mull AML Rules for Investment Advisers, Cryptocurrency Remains Top US Enforcement Priority, and More

May 27, 2022

Enforcement Actions

0 Items Found

Key Documents

Macau Passes Prevention and Suppression of Crime of Money Laundering

March 25, 2006

Macau Issues Measures for Prevention and Suppression of Crimes of Terrorism

April 1, 2006

Macau Issues Additional AML/CTF Regulations

April 7, 2006

Macau Releases AML Guidance for Financial Institutions

November 12, 2006

Macau Regulator Issues Large Cash Transaction Guidance for Credit Institutions, Insurance Companies

November 12, 2006

Important Facts

The U.S. State Department labels Macao as a major money laundering country. As a Special Administrative Region of China, it is not a significant regional financial center. Macao's financial system includes offshore financial businesses and its gaming market is the world's largest by revenue; however, as of January 2021, the offshore regime will be permanently terminated. Primary sources of laundered funds, derived from local and overseas criminal activity, include gaming-related crimes, property offenses, and fraud. Macao is likely both a transit point and an end destination for such funds. The country's gaming market attracts those seeking anonymity or alternatives to China’s currency movement restrictions. Asian organized crime groups, including triads, are active in the gaming services and involved in illegal activities such as drug trafficking. The jurisdiction’s use of junket operators in the transfer and commingling of funds, as well as the absence of currency and exchange controls, present vulnerabilities for money laundering. In July 2020, the jurisdiction's financial intelligence unit released the latest suspicious transaction reports filed in the first half of 2020, which totaled 947.

-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical	Effectiveness
Compliant : 22	High : 0
Largely Compliant : 18	Substantial : 6
Partially Compliant : 0	Moderate : 3
Non-Compliant : 0	Low : 2

Macao's technical compliance was re-rated in a Oct. 1, 2019 follow-up report

BASEL i

Rank : 80/110

Score : 5.93/10

TRANSPARENCY INTERNATIONAL i

Rank : N/A

Score : N/A

Tax Justice Network i

Rank : 31/133

Score : 65/100