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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?
Growth above 10 percent
Growth from 0 to 10 percent

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

Revamped Jai Alai fronton to open after March 2016

SJM Holdings CEO says work has begun now govt has issued building permit

Better lives for all our main aim, Chui says

Chief executive says better perks for top officials will stay off the table

Precious metals exchange opens on Hengqin Island

Hopes Hengqin’s advantages will make it Guangdong’s top commodity exchange

Annual inflation rate slows to 4.51 pct in April

Renting a home, eating out cost more; enjoyment, boozing, smoking cost less

Govt gives casino operator nod for 150 new tables

But omits to say which operator and which casino-resort will get the tables

Improve Macau’s transport, US gaming figure says

Otherwise fate like Atlantic City’s awaits, says American Gaming Assn head

Q1 visitor spending drops 16 pct to MOP13.36 bln

Govt statisticians say overnight visitors tightened their purse strings

Auditors blame public works bureau for park mess

Say failures meant Taipa Central Park project finished late and over budget

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