International edition
June 15, 2021

It says Macau should enhance investigations on money laundering

US wants “robust oversight” of Macau’s junkets

(Macau).- US Department of State called for Macau to “continue to strengthen interagency coordination” to prevent money laundering in the gaming industry. The Department’s latest annual International Narcotics Control Strategy Report says priority should be to introduce “robust oversight of junket operators, mandating due diligence over non-regulated gaming collaborators, and implementing cross-border currency reporting”, Business Daily reports.

M

acau also should enhance its ability to support international investigations of money laundering or terrorism financing, the State Department says. In addition, the report states Macau’s gaming industry is being used to launder the proceeds of property-related crime.

The report quotes Macau government officials as saying “property offences” are among the main sources of ill-gotten gains from crime here, and in the mainland, laundered in Macau.

This is the first time the State Department’s bureau of international narcotics and law enforcement affairs, which compiled the report, has linked property crime to money laundering here.

Since 2009 the State Department’s annual report on drugs has included a review of Macau’s efforts to counter money laundering.

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