Macau is strengthening its anti-money laundering (AML) framework with updated regulations, enhanced technology integration, and inter-agency coordination ahead of a critical 2028–2029 mutual evaluation by the Asia/Pacific Group on Money Laundering (APG).
Rising Suspicious Transaction Reports Signal Evolving Threats
Macau recorded a 10% increase in suspicious transaction reports (STRs) in the first quarter of 2026, with the Financial Intelligence Office (GIF) receiving 1,356 reports—up from the same period in 2025. This surge follows 4,925 total STRs filed in 2025, approximately 70% from the gaming industry and 20% from financial institutions. Notably, 118 cases were referred to the Public Prosecutions Office last year, with many linked to fraud.
At the “2026 Anti-Money Laundering/Anti-Financial Crime Annual Conference” at Macau Tower, nearly 300 regulators and experts from gaming, banking, and legal sectors acknowledged that compliance checklists alone are insufficient.
Key Officials Emphasize Substantive Effectiveness Over Institutional Compliance
Fong Iun Kei, deputy director of the GIF, stated: “Anti-money laundering is the first line of defense for financial security. But facing new risks – including fraud, electronic payments, and virtual assets – no single jurisdiction or institution can cope alone”.
Chan Weng Tat, president of the Macau Anti-Money Laundering Specialists Association (MAMLSA), urged Macau to evolve beyond “institutional compliance” toward “substantive effectiveness”: “Macau is an international free port and a key node of the Greater Bay Area (GBA). Our financial security is not just a local economic issue; it is deeply tied to the long-term stability of the nation”.
Chan emphasized that financial firms and gaming operators must deploy advanced technology, strengthen internal controls, and expand cross-industry intelligence sharing.
Technology Upgrades Block Fraud Cases
Tang Weng Fong, deputy director of the Monetary Authority of Macao (AMCM), revealed that emergency payment stoppage measures introduced in 2017 blocked over 680 fraud cases in 2025, securing more than MOP84 million.
In March 2026, the “Anti-Fraud App” was fully integrated with the “Easy Transfer” system, enabling near-instantaneous interception of suspicious flows. This is part of broader collaboration between the Judiciary Police (PJ) and Macau’s banking sector, including a pilot cross-border information-sharing scheme with Guangdong province launched in 2025.
Interdepartmental Coordination Strengthens Legal Framework
The Financial Intelligence Office of the Unitary Police Service convened the second plenary session of 2025 for Macau’s Interdepartmental AML/CFT Working Group, bringing together 55 senior officials from 13 government agencies including the Public Prosecutions Office, Commission Against Corruption, Monetary Authority of Macau, and Gaming Inspection and Coordination Bureau.
Discussions centered on latest FATF standard updates and Macau’s implementation status, including progress on the “Fourth Round of Macau SAR Money Laundering/Terrorist Financing/Proliferation Financing Risk Assessment”. This strategic initiative aims to align with the upcoming APG mutual evaluation.
Authorities reaffirmed commitment to strengthening the SAR’s legal framework and enforcement capabilities, focusing on domestic and cross-border money laundering threats. The Working Group emphasized inter-agency coordination and public-private sector collaboration.
Investment Funds Law Enhances AML Standards
Macau’s Investment Fund Law (Law No. 11/2025), effective January 1, 2026, replaces the 1999 framework with comprehensive legal infrastructure for investment fund formation, operation, and supervision.
Major highlights include:
The reformulated law aligns with international regulatory standards, enhancing investor protection and supporting sustainable financial sector development.
Virtual Assets and Emerging Risks
Macau’s inter-departmental AML/CFT working group is following international trends on virtual assets. Currently, all financial institutions in Macau cannot directly or indirectly provide virtual asset-related financial services. The working group will explore opening certain virtual asset activities under controllable risks and formulate or revise relevant laws and regulatory guidelines.
Rapid growth in virtual assets, digital payments, and cross-border fraud is reshaping Macau’s financial crime landscape.
APG Mutual Evaluation Preparation
The upcoming APG mutual evaluation (2028–2029) will focus less on whether policies exist and more on whether they actually stop money laundering. In a 2025 review, Macau became the first APG member to pass all 40 FATF Technical Compliance Recommendations.
According to the 2019 Mutual Evaluation Report, Macau was deemed Compliant for 22 and Largely Compliant for 18 of FATF’s 40 Recommendations, with Substantially Effective ratings in 6 of 11 effectiveness areas.
Economic Diversification Context
Secretary for Economy and Finance Anton Tai pledged continued leverage of modern finance to drive economic growth and deepen Greater Bay Area ties. The government’s “1 + 4” economic diversification plan lists finance as a nascent industry, focusing on bond markets, wealth management, and fintech.
This AML framework advancement supports Macau’s development as a “cross-border wealth management center” while safeguarding financial integrity.