China: 252 arrested for alleged illegal money exchange

Macau extradited 57 suspects.

China.- Some 252 alleged unlicensed currency traders have been arrested in a joint operation by police in China’s Jiangxi and Guangdong provinces. Macau extradited 57 suspects to mainland China. The suspects are believed to have used family connections and underground banking and to have operated in Macau’s casinos and hotels.

Macau legislators have an amendment to include measures addressing illegal money exchange in the proposed Law on Combating Illegal Gambling Crimes. Unauthorised money changers could face sentences ranging from one month to five years in prison and could be banned from casinos for between two and 10 years. The bill is expected to reach the legislature for a final vote before the end of the year.