Suspicious transactions in casinos hit a new record in 2024

The number of suspicious transactions recorded in Macau’s casinos reached a new record in 2024, driven by the recovery of the economy and tourism.

In 2024, the gambling sector generated MOP226.8 billion in revenue, a 23.9% increase from the previous year. In addition, the city welcomed 34.9 million visitors last year— a 23.8% rise compared to 2023. However, according to data released by the Financial Intelligence Office (GIF), the six casino operators in Macau reported 3,837 suspicious transaction reports related to money laundering or terrorist financing in 2024, an 11.8% increase from the previous year.

The transactions reported involved issues such as the conversion of chips with little or no gambling activity, the conversion of chips on behalf of third parties, and the exchange of currency or money conversion. In response, the GIF stated there would be “continued investment in resources by reporting entities in detecting suspicious transactions.”

Moreover, the GIF received 5,245 reports, with 73.2% coming from casino concessionaires, 20.9% from banks and insurance companies, and 5.9% from other institutions and entities.

These sectors—including pawnshops, jewelry stores, real estate agents, and auction houses—are required to report any transaction of MOP500,000 or more to the authorities. Of the total reports received, the GIF referred 142 suspicious transactions to the Public Prosecution’s Office for investigation last year, 26 more than in 2023. Staff Reporter