AMCM: More cooperation with PBOC

The Monetary Authority of Macau (AMCM) and the People’s Bank of China have concluded an intent to sign ‘in the near term’ a memorandum of understanding to further enhance cooperation in anti-money laundering efforts, such as information sharing and on-site inspections, AMCM informed Business Daily in a written reply. The Monetary Authority’s head, Anselmo Teng Lin Seng, did not confirm with media yesterday if the on-site inspections were of particular reference to the casinos, but stressed that the Authority would deal with “all acts” allegedly involved with money laundering here. The intent to sign the memorandum with the People’s Bank of China came after both parties met at the 17th Annual Meeting of the Asia/Pacific Group on Money Laundering held in the city in mid-July.