Macau has been given a positive rating by the Asia Pacific Group on Money Laundering (APG) for its efforts in anti-money laundering, according to a statement from the Financial Intelligence Office.
The Mutual Evaluation Report (MER) 2017, which evaluates jurisdictions based on AML/CFT measures, said that “licensing controls are robust in the Macau gaming sector for both concessionaires/sub-concessionaires and junket promoters.”
Macau has been lauded for applying AML / CFT measures to include junket promoters and their formal collaborators.
Under the current regime, the Macao SAR government uses a double-scrutiny system for junket promoters, in which the DICJ undertakes separate market entry/licensing requirements for junket promoters and their formal collaborators, in addition to the due diligence undertaken by concessionaires/sub-concessionaires.
In addition, DICJ provides industry training once every year to the gaming sector with a thematic topic/objective.
The government however noted that “understanding of the updated AML/CFT obligations and ML/TF risks in the junket promoter sector could be further improved.”