Macau\u2019s casinos reported more suspicious transactions in the first half of 2017 than in the previous year. (Image: vietnamgaming.vn)<\/figcaption><\/figure>\nIn total, more than 1,000 cases of suspicious transactions were reported by casino operators, which made up 70 percent of the total of such reports in the city.<\/p>\n
These reports mostly cover the kinds of activities that raise red flags in casinos around the world. For instance, the venues may report when gamblers try to convert chips back to cash without playing with them (or with minimal play), or when people attempt to redeem chips or other markets on behalf of a third party.<\/p>\n
Reports Don\u2019t Indicate Criminal Activity<\/strong><\/h2>\nThese reports aren\u2019t necessarily an indication that anything criminal has occurred. However, casinos are required to report such activity to the Financial Intelligence Office if the \u201cnatural, complexity, [or] the amount involved\u2026indicates any activities of money laundering or terrorist financing.\u201d<\/p>\n
In most cases, nothing comes of the reports. In total, only 79 cases were sent to the Public Prosecutions Office for additional investigation, and it is unclear how many of those incidents were actually prosecuted.<\/p>\n
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The increase follows last year\u2019s instructions from the Gaming Inspection and Coordination Bureau that required casinos and junket operators to apply more scrutiny in their anti-money laundering procedures.<\/strong><\/p>\n<\/div>\nMoney laundering and other financial crime has been a serious concern for Macau\u2019s prosperous gaming industry, both in the territory itself and on the Chinese mainland. In November, Chinese authorities busted an illegal bank that had allowed more than 10,000 people to move $3 million out of China illegally.<\/p>\n
Banks like these have often been used to move money into Hong Kong and Macau beyond what is allowed by government limits.<\/p>\n