BEIJING CRACKS DOWN ON GREY MONEY FLOWS TO AND FROM MACAO
February 8th, 2015
ADDITIONAL pressure is being placed on Macao anti-money laundering (AML) authorities to reduce the illicit flow of money between the Chinese special administrative region (SAR) and mainland China. This month (February 2015), officials from mainland China’s ministry of public security (effectively the police force) have this month been meeting Monetary Authority of Macao (AMCM) officials to set up a system that monitors transactions through UnionPay (China’s state-owned card payment clearing company) in Macao. No statement has yet been issued on those ...
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