42 arrested for illegal money exchange in Macau
The arrests were made on the premises of jewelry shops and pawnshops near casinos.
Macau.- The Judiciary Police has arrested 42 people in two separate operations against unauthorised currency exchange linked to gambling. In the first case, police arrested 33 people accused of offering currency exchange via fake transactions at eight jewellery shops near casinos.
Police said those arrested exchanged about HK$590m (US$75.9m) and made over HK$20m (US$2.6m) in illegal profits. In a second operation, police arrested nine people for allegedly exchanging money in pawn shops and private cars. They are said to have falsely employed non-resident workers to assist in the transfer of funds between Macau and mainland China. This group allegedly exchanged around HK$200m (US$25.7m) and earned at least HK$1m (US$128,600).
Both syndicates allegedly worked with underground banks. Police seized over HK$18m (US$2.3m) in cash, fake transaction receipts and electronic devices.
A new bill on Combating Illegal Gambling Crimes came into effect last October. The legislation criminalises unauthorised currency exchange when carried out for gambling purposes regardless of whether it occurs inside or outside casinos. Any gambling-related foreign exchange activity considered part of a business operation could fall under its provisions. Police need to obtain evidence, such as testimony from the unlicensed currency trader or the client, to prove that a transaction is for gambling.
