Macau sees surge in alleged engagement in unlicensed money-changing activities

As per Macau’s Secretary for Security, there has been a notable surge of 232% in the number of individuals suspected of participating in unlawful money-changing activities in Macau during the first nine months of 2023 when compared to the corresponding period in 2022.

Wong Sio Chak disclosed that, from January to September 2023, law enforcement detained 9,633 individuals under suspicion of engaging in the illicit exchange of funds, marking a substantial increase from the 2,899 apprehensions made during the same timeframe in 2022.

Wong underscored the collaborative nature of the response, involving the Judiciary Police, Public Security Police, and the Gaming Inspection and Coordination Bureau (DICJ) sharing responsibilities in addressing this issue. The DICJ, in particular, has been working closely with casino proprietors to identify and eliminate illegal money exchange activities, playing a crucial role in the city’s efforts to combat this escalating problem.

In response to the proliferation of illicit money-changing operations, Macau authorities have heightened patrols and inspections. Wong also highlighted the potential to prevent suspects involved in such activities from re-entering Macau, emphasizing the multifaceted approach employed to diminish the impact of illegal money exchange.

While acknowledging the increased awareness of the issue, Wong emphasized that sustained, long-term efforts and collaboration across various government agencies are imperative to effectively tackle this problem. The Secretary for Administration and Justice additionally proposed legislative measures as a solution to address the enduring challenges associated with illegal money exchange, advocating for a comprehensive strategy to resolve this issue.

Original story by: GGRAsia