Gambling-Related Crime in Macau Climbed in 2024
In 2024, Macau witnessed a significant rise in gambling-related crimes, with the Judiciary Police (PJ) reporting 1,423 investigations and prosecutions linked to gaming activities. This marked a 28.6% increase compared to 2023, although it was still 34% lower than the figures recorded in 2019.
LISTEN TO THIS ARTICLE:Among the cases recorded last year, 252 involved illegal borrowing for gambling purposes, while 47 were related to imprisonment associated with gaming. The PJ noted that despite the rise in overall cases compared to 2023, the proportion of serious and violent gaming-related crimes continues to decline, reflecting a positive trend in mitigating high-risk criminal activities within the sector.
Related: Macau Visitation Increase Bringing More Gaming-Related Crime to the CityThe implementation of Macau's new Illegal Gaming Law in 2023 significantly impacted the efforts to combat gaming-related crimes. By the end of December 2024, authorities had arrested 120 members of money exchange gangs involved in illegal gambling activities.
Law enforcement seized cash and chips amounting to over HK$11 million across 84 cases of illicit money exchanges. The PJ emphasized that the new law provided a crucial legal framework to address illegal money exchanges and gaming crimes more effectively. Police stated their commitment to remaining vigilant against hidden money exchange operations while simultaneously raising awareness about these activities among the public.
Across all types of criminal activity, the PJ reported filing 14,049 cases in 2024, which represented a 13.4% year-on-year increase. Among these, 7,762 cases were subjected to investigation and prosecution, a 14.1% rise compared to the previous year.
The number of cases resolved during the year reached 12,856, reflecting a 22.7% increase. This broader rise in criminal investigations highlights the challenges facing law enforcement in maintaining order within a city heavily dependent on its gaming industry.
More Business News
STRs Also on the Rise
Macau's Financial Intelligence Office also reported an increase in Suspicious Transaction Reports (STRs), with casinos filing 3,837 reports in 2024, a 12% rise compared to 2023. These reports, designed to prevent and combat money laundering and terrorism financing, showed a growing focus on financial compliance. Casinos are legally required to file STRs for any transactions exceeding MOP500,000 (US$62,325) within a 24-hour period, as well as for any transactions that appear suspicious, irrespective of the amount.
The city's six gaming operators, along with their staff, are mandated to undergo specialized training to identify and report suspicious activities. Cashiers, in particular, are prohibited from notifying customers when their transactions trigger an STR filing. This strict regulation underscores Macau's commitment to maintaining transparency and accountability within its gaming sector.
Casinos were the primary contributors to STR filings in 2024, accounting for 73.2% of the total 5,245 reports received by the Financial Intelligence Office. Banks and insurance companies followed with 1,097 filings, representing 20.9% of the total, while other institutions contributed the remaining 5.9%.
The increase in STR filings reflects intensified regulatory oversight by local authorities, including the Gaming Inspection and Coordination Bureau, to ensure adherence to anti-money laundering and financial transparency standards within Macau's critical gaming industry.
RELATED TOPICS: Business
Latest News
Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Gambling-Related Crime in Macau Climbed in 2024