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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

Detained junket operator had diplomatic passport

Suspected triad member was appointed San Marino’s ambassador to Montenegro

Officials acquitted of stalling burial plot probe

Court clears Civic and Municipal Affairs Bureau ex-head, three subordinates

Sinogreen Energy eyes Macau gaming market

Deal with Jimei chairman would raise money for its own junket business

Few Hengqin theme park visitors also visit Macau

But most visitors have been to Macau before and some will come next time

Wynn Resorts Q2 EBITDA in Macau US$307 mln

Casino operator’s VIP business dips while its mass-market business leaps

Nomura detects strong mass-market gaming trends

But thinks below-average win rate curbed VIP revenue in week ended July 27

Academic sceptical about economic diversification

Macau Polytechnic Institute teacher says city too small for greater variety

Tourist satisfaction with Macau decreases in Q1

Visitors give city’s casinos, tour operators and guided tours lower scores

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