Macau suspicious transactions drop in Q1

The number of suspicious transaction reports in Macau fell by 23.1 percent in Q1, according to figures released by the Financial Intelligence Office.

The total number received was 699. The number of transactions reported by Macau’s operators declined to 507 from 541 in the same period a year earlier and made up 72.5 percent of all reports.

The second-largest number were from the financial industry, which saw reports decline to 169 from 235 a year earlier, accounting for 24.2 percent of the total.

A U.S. State Department in a report published in March acknowledged that Macau was exercising greater control over its junket industry, but said it needs to cut its reporting threshold for large transactions.

The limit currently stands at $62,640 and needs to come down by $3,000 to bring it into line with international standards.

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