Tighter AML compliance on horizon for Macau

    Published in: Latest Intelligence By Alan PedleyRecent political and regulatory AML chatter in Macau fits with the timeline of international AML/ CTF scrutiny. It seems inevitable that more stringent controls will be necessary in the near futureTo understand how Anti-Money Laundering & Counter Terrorism Financing (AML/CTF) regulation is likely to impact Macau’s junket, and possibly premium mass, markets we need to look at a few factors: (1) the increasing pervasive nature of international AML/CTF efforts; (2) some modus operandi of junket and premium-mass operations; and (3) combined effect of these on Macau’s junket operations.Understanding international AML/CTF effortsInternational AML/CTF efforts are coordinated by the Financial Action Task Force (FATF) which was established in 1989. Its objectives are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF is therefore...

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