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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

Sands China staffing costs to top US$1 bln in 2014

But the boss is happy to pay employees more in a competitive labour market

Politician expects more delay in Japan casino bill

Says parliament unlikely to get round to legislating in its current session

Macau international trade fair begins on Thursday

Promoter expects 48 trade agreements to be signed during the four-day event

Middlemen differ on motives of Hengqin homebuyers

Some Macau people are looking for investments, others for a place to stay

Jimei boss fails to buy all of Sinogreen Energy

Owners of 0.005 pct of Sinogreen Energy stock accept mandatory cash offer

Analyst predicts US$100 bln casino market in 2020

But Wells Fargo’s Cameron McKnight says Macau must first deal with ‘issues’

Baccarat no longer quite the money-spinner it was

Casino takings from the VIP and mass markets for the game dwindle in Q3

Sands China Q3 net profit ticks up to US$644.6 mln

But, in a sign of the times, the casino operator’s revenue drops slightly

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