The so-called ‘money changers’, present around the city’s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the mainland and Macau.
Driven by huge profits, the scale of the “money exchange gangs” providing large amounts of cash exchange and high-interest loan services illegally in Macau has expanded rapidly, mainland authorities said, adding that this has triggered other illegal activities such as fighting, fraud, theft, and smuggling, severely affecting local social order and stability.
Macau’s Secretary for Security, Wong Sio Chak, said last week that gaming-related crime soared 122 percent year-on-year in the first quarter of 2024. Fraud accounted for 21.7 percent of the total, with 76 cases, followed by loan sharking at 17.9 percent. Local authorities added that cases involving illegal money exchange were still heavily linked to fraud.
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