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With Growth of Macau, Comes Greater Risks of Laundering, Say Analysts
By Matt Squire
printFor a large American casino company looking to spread its wings, the boom and glitz of Macau is sure to be alluring. But the former Portuguese colony, most recently a special administrative region of China, is today not only one of the most active gambling centers in the world, but also one of the most vulnerable to money laundering, say compliance experts. The draw of big profits at the risk of compliance troubles is one that should give banks pause, they say. "There are very strong risks involved with doing business with Macau," said Garry Clement, a managing director of...
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