Casino Suspicious Activity Up in Macau As Business Booms

Macau casinos reported a record number of suspicious transactions in 2024, coinciding with the region's economic rebound and tourism surge.

Macau's casinos are experiencing a rise in suspicious financial activities as the city's economy and tourism rebound, according to a recent report.

Data from Portuguese-Macau daily Lusa reveals that Macau casinos reported a record number of suspicious transactions in 2024. These transactions, which may indicate potential money laundering or terrorist financing, totaled 3,837 cases—an 11.8% increase from the previous year.

The statistics were released by Macau’s Finance Intelligence Office (Gabinete de Informacao Financiera, GIF).

“This increase was mainly due to the economic recovery and the significant rise in visitor arrivals in 2024,” the GIF stated.

Experts attribute the uptick in suspicious activity to Macau’s improving economy and the surge in tourism. More visitors and increased financial transactions in casinos create greater opportunities for illicit activities. Additionally, casinos have enhanced their monitoring and detection mechanisms, leading to more flagged transactions.

In 2024, Macau’s casinos generated MOP 226.8 billion (P1.6 trillion) in revenue, reflecting a substantial 23.9% increase. The city also welcomed 34.9 million visitors, a 23.8% rise compared to the previous year.

Casinos are monitoring activities such as chip exchanges without gameplay, transactions conducted under different identities, and irregular currency exchanges. Authorities in China have previously dismantled underground banking operations in Macau that facilitated illegal financial activities.

Casinos account for 73.2% of all suspicious transaction reports, followed by banks and insurance companies at 20.9%. Other businesses, such as pawn shops and jewelry stores, contribute the remaining reports. Under Macau’s regulations, financial institutions must report any single transaction exceeding MOP 500,000 (PHP 3.6 million).

Despite the high number of reports, only 142 cases in 2024 led to police investigations—a slight increase from the previous year. Authorities have not disclosed why many reports do not result in further action.

While the U.S. government has identified Macau as a potential money-laundering hotspot, local authorities maintain that they adhere to international financial regulations. Macau officials emphasize their commitment to compliance and cooperation with global financial watchdogs to combat illicit activities.

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