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ISSUE 118 - Feb 2014
 
 
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2014?
Decline
Growth above 10 percent
Growth from 0 to 10 percent
Stagnation
 
 

Cross-border cash flow controls mooted: report


Posted: 7/5/2013 12:24:15 PM
Rating:     0% ( votes)
  

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.



Other Macau Latest News

Govt in the dark about LRT project cost, duration

Transport secretary says sorry for keeping lawmakers equally in the dark

Govt expects Pac On terminal to open in mid-2016

Transport secretary tells Legislative Assembly work will finish this year

Jewellery shop chains report big dips in Q1 sales

Chow Tai Fook, Luk Fook say rich shoppers from mainland bypassing Macau

Tourist price inflation slows to 3.63 pct in Q1

Hotels curb the pace of increase in room rates, govt statisticians say
Headlines

It wasn’t me, boss of app developer tells court

Charlie Choi says he’s baffled by accusation he broke data protection law

Galaxy Entertainment Q1 earnings fall steeply

EBITDA drops 40 pct to HK$2.3 bln as revenue slides 32 pct to HK$13.7 bln

Banks estimate big falls in Q1 casino earnings

Credit Suisse sees 40 pct drop from year earlier, Morgan Stanley 37-41 pct

Govt aims to limit visitors from mainland for now

Plan is to accept more than 21 million a year once infrastructure can cope

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