Almost 850 people have been detained to date in the ongoing operation targeting unauthorised currency exchange activities happening at Macao’s casinos, Asia Gaming Brief (AGB) reports.
Macao and mainland authorities have cooperated in the crackdown, which focuses on syndicates allegedly involved in a raft of crimes besides illicit money exchange, including operating underground banks, organising illegal border crossings for mainland residents, scams, and the wrongful detainment of gamblers.
According to Chen Shiqu, deputy head of the Criminal Investigation Department at the mainland’s Ministry of Public Security, 263 of these syndicates have been dismantled to date, and 846 suspects have been arrested.
[See more: Beijing orders a crackdown on Macao’s illegal money exchanges]
Addressing the media in Beijing on Friday, Chen said that Macao police had deported 581 mainland Chinese suspected of involvement in illegal money exchanges. A special task force has also been established in the neighbouring mainland city of Zhuhai to address criminal activities related to illegal currency exchange in Macao. He also praised the effectiveness of the Macao-mainland collaboration, AGB said, noting the SAR’s recent toughening up on FX activities around casinos.
In late May, amid wider concerns around capital flight, the central government announced it was cracking down on illicit money exchange activities happening in Macao. Officials stated that they intended to break up the “entire industry chain” on a national level.
In October, the Macao government introduced a new law imposing jail sentences of up to five years for individuals convicted of conducting illegal currency exchanges intended for gambling. This legislation extends beyond gambling halls, covering all areas within a casino-resort.
[See more: Beijing orders a crackdown on Macao’s illegal money exchanges]
At the same briefing, the deputy head of Guangdong’s Criminal Investigation Department, Wu Wei, said that 192 of the illegal FX cases Chen had mentioned were investigated in the southern province. The money involved in those individuals’ alleged crimes was believed to be around 14.7 billion yuan (US$2.02 billion), AGB said.
The Macau Judiciary Police also held a press conference last week, at which the force’s deputy director, Sou Sio Keong, said 84 people suspected of involvement in illegal exchange activities were arrested between 29 October and 30 November. Some HK$9.6 million (US$1.23 million) in cash and gaming chips were seized in the process.
According to the Macau Daily Times, nine of those arrested were locals, one was from Hong Kong, and the remaining 74 were mainland Chinese.
