Macao

New Documents

Macao Financial Intelligence Office Highlights Slight Rise in Submission of STRs

The Financial Intelligence Office of Macao published statistics on the submission of suspicious transaction reports during the first quarter of 2021, highlighting a nearly eight percent increase in the number of submission as compared with the same period in 2020.

May 10, 2021

Macao GIF Outlines 2020 Decline in STRs Submissions

The Financial Intelligence Office of Macao published statistics on the submission of suspicious transaction reports during 2020, highlighting a more than 24 percent decreased in the number of submission as compared with 2019.

February 2, 2021

Macao Regulator Highlights 20 Percent Decrease in STRs During 2020

November 10, 2020

Macao Financial Intelligence Office Publishes 2019 Annual Report

October 12, 2020

Hong Kong, Macao Adopt Tax Agreement

September 9, 2020

News

Weekly Roundup: Fintech Loses Bank Accounts, Maltese Lender Denies Involvement in Former Manager’s Alleged Laundering, and More

Bosnian authorities accuse former Raiffeisen Bank director of money laundering, China expands AML requirements to non-financial firms, and more, in the weekly roundup.

April 16, 2021

Weekly Roundup: FinCEN Revokes Banco Delta Asia Blacklisting, US Prosecutors Target Kolomoisky Properties, and More

OFAC slaps sanctions on Carrie Lam, other Hong Kong officials, Wirecard execs may have embezzled $1 billion, and more, in the weekly roundup.

August 7, 2020

Midweek Roundup: FinCEN Official Admits Leaking SARs, US Bills Would Give Bureau Key Role Against Domestic Extremism, and More

January 15, 2020

Weekly Roundup: Belgium Probes KBC For AML Lapses, Swiss Freeze Nirav Modi Accounts, and More

June 28, 2019

Weekly Roundup: Trump Properties Bought with Shell Companies, M&T Bank Exits Enforcement Action, and More

July 28, 2017

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 : 42/141
Score : 5.72

TRANSPARENCY INTERNATIONAL i

Rank : N/A
Score : N/A

Tax Justice Network i

Rank : 31/133
Score : 65/100