Illegal money exchange in Macau: 38 arrested since October

A new bill on Combating Illegal Gambling Crimes entered into force last month.

Macau.– Sou Sio Keong, deputy director of Macau’s Judiciary Police (PJ), has reported that 38 people have been arrested in connection with unlicensed foreign exchange for gambling since the bill on Combating Illegal Gambling Crimes entered into force in October.

Speaking with public broadcaster TDM, Sou said authorities had uncovered 25 cases of illegal money exchange, seizing over HK$3.1m (US$398,361) in cash and casino chips worth HK$1.1m (US$141,400). The Judiciary Police have deployed officers at various Cotai casinos to raise public awareness of the new legislation, which criminalises unauthorised currency exchange when carried out for gambling purposes regardless of whether it occurs inside or outside casinos.

The bill also bans the operation, promotion, and organisation of online gambling and mutual betting irrespective of the physical location of associated systems and devices. It also introduces provisions enabling searches of residences from 9pm to 7am and prohibits the sale of the Mark Six lottery organised by the Hong Kong Jockey Club (HKJC).

Gaming-related suspicious transaction reports in Macau up 30.2% in first 9 months of the year

In unrelated news, the Financial Intelligence Office (FIO) reported that casino operators filed 3,041 Suspicious Transaction Reports (STRs) in the first nine months of the year, an increase of 30.2 per cent year-on-year. Gaming accounted for 73.8 per cent of all STRs. The figure compares with 2,335 reports in the same period last year, when gaming accounted for 73.5 per cent of STRs.

Suspicious transaction reports across all sectors totalled 4,118 in the reported period, up from 3,178 in the first nine months of 2023. Financial and insurance institutions accounted for 843 reports, 20.5 per cent of the total and a rise of 36.6 per cent in year-on-year terms. The other institutions category accounted for 234 reports or 5.7 per cent of the total, up 3.5 per cent.

In 2023, casino operators filed 3,431 STRs, up from 1,177 in 2022.

A new bill on Combating Illegal Gambling Crimes entered into force last month. Macau.– Sou Sio Keong, deputy director of Macau’s Judiciary Police (PJ), has reported that 38 people have been…