New Documents

The Financial Intelligence Office of Macao released statistics concerning the submission of suspicious transaction reports from January to September 2020, highlighting that submissions decreased by more than 20 percent compared with the same period in 2019.

Macao’s Financial Intelligence Office published its 2019 annual report detailing efforts over the year to combat money laundering and terrorist financing, including work to adopt new global cryptocurrency standards.

Enforcement Actions

0 Items Found

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; however, Macao's financial system includes offshore financial businesses and its gaming market is the world's largest by revenue. 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. Though the number of licensed junket promoters decreased in 2019, Macao has convicted only a handful of money laundering cases in recent years.
-Source: 2020 International Narcotics Control Strategy Report (INCSR)


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


Rank : 42/141
Score : 5.72


Rank : N/A
Score : N/A

Tax Justice Network i

Rank : 31/133
Score : 65/100