The Macao Special Administrative Region established the Interdepartmental Anti-Money Laundering / Counter Financing of Terrorism Working Group (AML/CFT WG) in 2002, which composes of 15 members currently (including judicial, law enforcement and competent supervisory agencies), and is being coordinated by the Financial Intelligence Office (GIF). The main functions of the AML/CFT WG include carrying out policy studies related to combating money laundering, terrorist financing and proliferation financing, conducting ongoing risk assessments for the Macao SAR, following up on the evaluation work conducted by international organizations and exchanging information on international and local trends related to AML/CFT, coordinating trainings and public awareness programs, and developing guidelines for the relevant reporting sectors.
The Financial Intelligence Office, as the coordinating agency, held the first plenary meeting of the year on 26 May 2021 to discuss the priority actions in 2021, in relation to the "Anti-Money Laundering/Counter Terrorist Financing/Counter Proliferation Financing Strategic Plan 2021-2025 of the Macao SAR", the latest arrangements for the next round of mutual evaluation and the progress of risk assessment and the recent international AML trends.
Participating member agencies include the Public Prosecutions Office, the Commission against Corruption of Macao, the Unitary Police Service, the Macao Customs Service, the Legal Affairs Bureau, the Monetary Authority of Macao, the Gaming Inspection and Coordination Bureau, the Macao Economic and Technological Development Bureau, the Finance Services Bureau, the Macao Trade and Investment Promotion Institute, the Judiciary Police, the Public Security Police Force, the Housing Bureau, the Independent Committee for the Exercise of Disciplinary Power over Solicitors and the Financial Intelligence Office, with a total of around 70 representatives.
The Macao SAR will continue to promote the implementation of AML/CFT laws and regulations to further safeguard the financial stability and sustainable and healthy economic development of the Macao SAR.View gallery