Macau targets illegal money exchanges

The police will further look into illicit money exchange in and near casinos. (Credits: policefoundation.org)
The police will further look into illicit money exchange in and near casinos. (Credits: policefoundation.org)

The Secretary for Security said the city will further tackle the illicit money exchange inside and around casinos in Macau.

Macau.- An effective crackdown on gaming-related crimes during the beginning of 2018 has only been the starting point for Macanese authorities. According to Secretary for Security Wong Sio Chak, the police forces will specifically target illicit money exchange inside and around casinos during the rest of the year.

There has already been a total of 12 sting operations so far, Mr Wong said, as illicit money changing services are a “security risk” of which the authorities are aware. Furthermore, over 280 people had been questioned in and around the city’s Cotai casinos early in May and about 226 people had been identified as allegedly involved in illicit money exchange services.

During the first quarter, 59 cases of gaming-related detentions were recorded, which means a decrease of 43.8 per cent year-on-year. Nonetheless, cases of suspected usury (or loan-sharking) rose by 15.9 per cent from the first quarter of 2017 to 102.

According to Mr Wong, the police will increase the monitoring of money exchange and will strengthen communication with Macau’s gaming companies and hotels.

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