It isn’t surprising that the figure dropped in 2020. Macau was dealing with COVID-19 and a virtual shutdown of its gambling activity. However, in 2019, the figure was 1,913, which means 2021 was a much better year.<\/p>\n
Through continuous outreach and meetings, the quality of the suspicious transaction reports reported by the gaming sector has shown steady improvement over the past decade<\/strong>,” Macau’s Financial Intelligence Office told GGRAsia<\/em>.<\/p><\/blockquote>\nThe number of reports dropped, but the type of activity remained the same. The three most common triggers were irregular cash withdrawals, deposits with non-verifiable sources of funds, and chip conversion after no or minimal gambling.<\/p>\n
The GIF recognized that more needs to be done going forward. For example, due diligence to protocols and reporting guidelines must pick up. In addition, there needs to be better monitoring of ongoing transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau’s efforts to reduce potential money-laundering activity in the Chinese Special Administrative Region (SAR) are apparently working. The city’s gaming regulator received applause this week from the Asia\/Pacific Group on Money Laundering for cleaning up Macau’s casino industry. This week, The Asia\/Pacific Group on Money Laundering (APPG) lauded Macau’s gaming regulator, the Gaming Inspection and […]<\/p>\n","protected":false},"author":64,"featured_media":208598,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,13592],"tags":[],"acf":[],"yoast_head":"\n
Macau's Gaming Czar Praised for Increased Anti-Money Laundering Efforts - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n