Macao

New Documents

Macao GIF Holds 2022 AML/CTF Working Group Plenary

Macao’s Financial Intelligence Office organized the annual plenary meeting of the anti-money laundering and counterterrorist financing working group on Feb. 16, 2022, to summarize key actions completed in 2021 and planned activities for the year ahead.

June 17, 2022

Macao GIF Reports Increase in Suspicious Transaction Reports Received

The Financial Intelligence Office of Macao reported an overall increase in the number of suspicious transaction reports received during the first quarter of 2022.

June 17, 2022

Macao GIF Highlights Small Increase in STRs Filed in 2021

February 18, 2022

Macao Police Arrest Two Men for ML, Illegal Gambling

February 2, 2022

IMF Mission Concluding Statement on Macao Highlights AML/CTF Progress

January 24, 2022

News

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

Rabobank knew of AML shortcomings in 2014, suspected Bitfinex thieves seek plea deal, and more, in the midweek roundup.

June 1, 2022

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

Puerto Rican bank settles OFAC violations, FDIC tags North Carolina-based savings bank, and more, in the weekly roundup.

May 27, 2022

Weekly Roundup: US Clears Some Afghan Transactions, Global Money Remitters Resume Transfers to Afghanistan, and More

September 3, 2021

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

April 16, 2021

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

August 7, 2020

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