Suspicious transactions in Macau down 32.2% in first three quarters

Macau

In the first three quarters of this year, Macao registered 2,089 suspicious transactions, down 32.2% compared to the same period of 2018, the Financial Information Office (GIF) said.

According to the GIF website, which published the information on Friday, the decrease was due to the number of suspicious transactions reported "by the financial sector and other institutions."

Most of the complaints were from gaming operators (66.2%) with 1,382 registrations, and from financial institutions and insurance companies (30.6%) with 649 participations, while other institutions reported 67 (3.2%), added the GIF.

In 2018, Macau reported 3,716 suspicious transaction holdings, up 20.45% over 2017.

Referred sectors, such as casinos, are required to report to the authorities any transaction equal to or greater than 500,000 patacas (about 56,000 euros) under the Anti-Money Laundering and Tourism Financing Act.

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