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Macau Cracks Down on Unauthorized Currency Changers in 2024

July 8, 2024 Macau Crime & Legal

Macau Authorities Crack Down on Unauthorized Currency Changers in 2024

Macau authorities intercepted 1,942 unauthorized currency changers in the first five months of 2024, barring them from entering the city, according to Judiciary Police Director Sit Chong Meng. Additionally, the Gaming Inspection and Coordination Bureau (DICJ) banned 927 individuals from casinos due to suspected money-changing activities, which were significant steps to curb these illicit operations.

Sit mentioned that 30 Macau ID holders involved in unauthorized currency exchanges were referred to the Macao Monetary Authority for further proceedings. Since the casino market recovery early last year, unauthorized money changers have become more active near casino premises.

Data presented by Sit showed that the Judiciary Police investigated 579 gaming-related cases for antisocial activity in the first five months of this year, a 75.5 percent year-on-year increase. Gaming-related fraud cases surged by 66.7 percent, closely related to currency exchange gangs. However, he noted that illegal activities involving money exchange scammers have decreased in recent months.

The Judiciary Police probed 5,907 suspected crime cases from January to May this year, reflecting a 28.8 percent year-on-year rise. Crimes related to gaming and tourism were among those increasing, according to Sit.

Sit also highlighted extensive collaboration between the Ministry of Public Security of the People’s Republic of China and Macau in combating money exchange fraud. Public security bodies in mainland China pursue the entire chain linked to these crimes, achieving notable results.

In Beijing on Friday, China’s Ministry of Public Security held a meeting to address Macao’s illicit money exchange activities, emphasizing the need for stringent enforcement to tackle these illegal activities.

Original Story by: GGRAsia

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