Macau’s new gambling law won’t address illegal money exchange
The government hasn’t ruled out the possibility of legislation in the future.
Macau.- The proposed Law on Combating Illegal Gambling Crimes will not include measures addressing illegal money exchange, though the Macau government has not dismissed the possibility of legislation on the matter it in the future.
The draft legislation, intended to replace the existing Illegal Gambling Law (Law 8/96/m), passed its initial reading at the Legislative Assembly of Macau in February and is under review by the Legislative Assembly (AL). The proposal outlaws under-the-table betting, also known as side or multiplier betting and authorises undercover operations to tackle illicit gambling.
Lawmaker Chan Chak Mo, the head of the AL’s Second Standing Committee, told media that while the new bill does not target illegal money exchange, the government is aware of its impact on the gaming industry and local economy. He said the government is considering introducing penalties, such as entry bans for the activity.
Earlier this month, China’s Ministry of Public Security urged Macau and mainland security forces to collaborate more closely to combat illegal money exchange in Macau.
