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Suspicious transaction reports in Macau up 20 percent in 2014


Macau’s Financial Intelligence Office reported that there were 1,812 suspicious transaction reports in 2014, up from 1,595 in 2013.

The increase in STRS reflects a greater awareness among industries of anti-money laundering and the combatting of the financing of terrorism, especially in the gaming industry, the office said.

The number of STRs submitted in paper form rose to 424 in 2014 from 360 in the prior year, while those submitted through encrypted email dropped to 35 from 40 in 2013.

The number of STRs submitted through a secured website remained at the same level of 2013 in terms of percentage. Out of 74.67 percent of online submission, 111 STRs were reported by financial institutions while 1,242 were submitted by casino operators. 

“It is expected that the secured website reporting system will still be the major method for the reporting entities to submit their STRs in the near future, and enhancement of the system will be carried out in 2015.” 

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