Published
Legal & Regulatory

Macau suspect gaming transactions up 24% in 2016

Ther

macau2
e were 1,546 suspicious transaction reports (STRs) relating to the gaming sector in Macau, a figure which represents a 24% increase compared to the prior-year period, according to the city’s Financial Intelligence Office.

Meanwhile, there were 2,321 STRs relating to financial dealings as a whole in Macau for 2016, a 28.4% increase from the previous year.

The gaming-related STRs accounted for approximately 66% of those submissions.

In addition, Macau’s financial sector submitted 696 suspicious transaction reports to the intelligence office during 2016, up 38.3% compared to the number in 2015. The office also received 79 STRs from other institutions that consisted mainly of merchants of high values products.

Macau’s gaming regulator last year extensively revised the anti-money laundering rules for the sector, but kept the threshold set for casinos to report “large” transactions at MOP500,000 (US$62,000). The new rules were enacted on 13 May, 2016.

However, the U.S State Department has repeatedly called for Macau to reduce the large sum transaction reporting threshold of MOP500,000 to the equivalent of US$3,000 “to bring it in line with international standards”.



Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...