Macao’s casino operators made a record-breaking 3,837 suspicious transaction reports in 2024, an increase of 11.8 percent when compared to the previous all-time high of 3,431 recorded in 2023.
Financial Intelligence Office data shows that financial institutions and insurance companies made a combined 1,097 reports, an increase of 23.7 percent in comparison to 2023.
In contrast, there were only 311 such reports from other institutions, representing a slight growth of 5 percent year-on-year.
In total, 5,245 suspicious transaction reports were made last year, an increase of 13.7 percent year-on-year. Officials pointed out that this change was mainly due to the increase in reports by the financial sector.
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By proportion, casinos accounted for 73.2 percent of the total. Financial institutions and insurance companies made up 20.9 percent, while reports from other institutions accounted for 5.9 percent.
Compared to pre-pandemic 2019, the number of casino reports last year grew by around 100 percent. Those from financial and insurance firms registered a growth of 24.6 percent, while other institutions recorded an increase of 110.1 percent.
In its statement, the Financial Intelligence Office said that it had referred 142 of the reports made last year to the Public Prosecutions Office.
According to the Monetary Authority of Macao, examples of suspicious transactions can involve large sums that are inconsistent with a business’s regular activities, as well as the frequent transfer of funds overseas within a short period of time.
