Macao

New Documents

Macao Regulator Highlights 20 Percent Decrease in STRs During 2020

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.

November 10, 2020

Macao Financial Intelligence Office Publishes 2019 Annual Report

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.

October 12, 2020

Hong Kong, Macao Adopt Tax Agreement

September 9, 2020

Macao Regulator Outlines Decrease in STR Submissions

July 8, 2020

HKMA, PBC Launch Cross-Border Financial Cooperation Program with Macao MA

July 1, 2020

News

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

Avenatti jailed on money laundering charges, Treasury intensifies scrutiny of foreign acquisitions, and more, in the midweek roundup.

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

Weekly Roundup: Trump to Reinstate Sanctions Against Cuba, US Senators to Introduce New Sanctions Against Russia, and More

June 2, 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; 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)

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