Gaming ops file record number of suspicious transaction reports in 2024

Macau’s gaming operators reported a record 3,837 suspicious transaction reports (STRs) in 2024, an 11.8% increase from the previous year, according to the Financial Intelligence Office (GIF).

This marks the highest annual tally since the GIF’s establishment in 2006. The office collects, analyzes, and forwards reports of suspected money laundering and terrorist financing to law enforcement.

Gaming operators accounted for 73.2% of the 5,245 STRs filed citywide in 2024, reflecting a 13.7% year-on-year increase.

This overall total also set a new annual record for Macau. Of these reports, 142 cases were referred to the Public Prosecutions Office for further investigation.

STRs are triggered by customer behaviors suggesting potential money laundering, such as chip conversions with minimal gambling activity. Casinos are also required to submit large-amount transaction reports for sums exceeding MOP500,000.

Beyond gaming, financial institutions and insurance companies significantly contributed to the rise, filing 1,097 STRs in 2024, a 23.7% increase from 2023. These submissions represented 20.9% of the total and marked the banking sector’s highest volume of STRs since 2018.

The GIF did not specify reasons for the increase but noted in its 2023 report that common triggers in the gaming sector include chip conversions with minimal play, irregular large cash withdrawals, unexplained currency exchanges, and transactions linked to other crimes. Staff Reporter