Financial Intelligence Office director Deborah Ng Man Seong says the government is considering a new arrangement for declaring cash when crossing the border, reports the Portuguese news agency Lusa. Lusa quoted Ms Ng as saying the government was “analysing the feasibility of implementing a declaration or notification requirement” of certain amounts to meet recommendations by the international Financial Action Task Force on Money Laundering. There is no schedule in place for introducing the changes. Ms Ng said although money laundering was a crime here, there was no criminal sanction for failing to declare funds carried across the border or for lying to officials. Beijing bans mainlanders from bringing more than RMB20,000 (MOP26,000) into Macau.
—
