Money laundering: Canada and Macau in talks

In order to fight money laundering and terrorism financing activities the Secretary for Economy and Finance Lionel Leong is working to establish a co-operation agreement for financial information exchange between the SAR and Canada, a dispatch by the Chief Executive in the Official Gazette announced yesterday. The signing of the agreement with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) could be delegated to the Macau Financial Intelligence Office (GIF) co-ordinator, notes the dispatch. Macau has already entered into similar agreements with authorities from China, Hong Kong, Japan, Singapore, Indonesia, Thailand, Malaysia, Fiji and Australia, as reported by Business Daily.