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No complacency in anti-money laundering work says Lionel Leong

Secretary for Economy and Finance Lionel Leong Vai Tac said at the weekend that the government will not be complacent after achieving good results in the Asia/Pacific Group on Money Laundering (APG) Mutual Evaluation Report (MER) 2017.

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UPDATED: 22 Dec 2023, 5:51 am

Secretary for Economy and Finance Lionel Leong Vai Tac said at the weekend that the government will not be complacent after achieving good results in the Asia/Pacific Group on Money Laundering (APG) Mutual Evaluation Report (MER) 2017.

Leong made the remarks while speaking to reporters on Saturday on the sidelines of the opening ceremony of the Youth Career Expo 2017 at the Macau Fisherman’s Wharf.

The Asia/Pacific Group on Money Laundering (APG), of which Macau is a member, has praised Macau’s efforts in the fight against money laundering and supervision of its gaming industry, the Financial Intelligence Office (GIF) said in a statement last week.

The GIF statement said that according to the APG, Macau achieved “exceptional results” in its technical and legal efforts in fighting money laundering, terrorist financing and the proliferation of weapons of mass destruction.

According to the statement, the APG also praised Macau for its “efficiency” in supervising the city’s gaming industry. The statement also said that the APG described Macau’s gaming licensing system as “robust”.

Speaking to reporters, Leong said that while Macau has obtained a substantial rating in the APG Mutual Evaluation Report (MER) 2017, the government will not be complacent about the results, adding that the government will continue to enhance its efforts with the aim of following the suggestions raised in the Mutual Evaluation Report.

Among the suggestions raised in the Mutual Evaluation Report is for Macau to improve the efficiency of arraigning and putting money-laundering suspects on trial.

Leong also said that with the passage of two amendment bills on anti-money laundering measures and anti-terrorist financing by the legislature that came into force earlier this year, he believed that it will be easier for suspects to be put in the dock.

UPDATED: 22 Dec 2023, 5:51 am

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