The Asia Pacific Money Laundering Group (APG) gave a positive review of Macau’s anti-money laundering efforts.
The Financial Intelligence Agency’s statement, contained in the Mutual Assessment Report (MER), which assesses jurisdictions based on anti-money laundering and anti-terrorism financing (AML/CFT) measures, says “License controls are strong in Macau gaming for both concessors/concessors and junket promoters,” according to the Asian Game Brief
Located on China’s southern coast, the borough has been praised for its application of AML/CFT measures, including junket promoters, VIPs and high rollers, and their official collaborators.
Under the current administration, the Government of the Special Administrative Region of Macau (SAR) uses a dual investigation system for junket promoters, and the Game Inspection and Coordination Bureau (DICJ) initiates separate requirements for market entry/permission for junket promoters and former partners, along with due diligence for concessionary/dual grantees.
In addition, DICJ conducts industry training on topics/goals once a year for the game industry.
However, while Macau’s efforts in applying AML/CFT measures were praised, the government noted that “the understanding of updated AML/CFT obligations and ML/TF risks in the junk promoter sector could be further improved.”
According to related news, Guo Qicheng, the leader of a trade organization that represents many junket vendors in Macau recently said that the government’s financial demands for junket vendors are less than they are demanding and need to be stricter.’