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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

Monetary Authority bats for online payment systems

Chief hopes for changes in law to ease establishment of third-party systems

Macao Water profit after tax MOP58.62 mln in 2014

Utility says city consumed 6.42 pct more water as population, economy grew

Help catch fugitives, central govt tells Macau

Minister urges graftbuster to go after corrupt officials that flee mainland

Holidays make analysts even gloomier about gaming

Revenue forecasts reduced after Lunar New Year take shows slump deepening

Housing market heats up slightly in February

The average price of residential space increases as fewer homes are sold

Gambling debtors blacklist website boss prosecuted

Operator is accused of breaking the law on the protection of personal data

Cultural Industries Fund graft suspicions probed

Fund head says suspicions are unconfirmed, avoids pointing accusing finger

ICBC putting another US$360 mln into Macau unit

Parent bank expects to maintain its stake in its Macau arm at 89.33 pct

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