For the purpose of strengthening cooperation among government departments and financial institutions in the Macao S.A.R. and Mainland China, a meeting was hosted by the Monetary Authority of Macao (AMCM) and co-organized by the Financial Intelligence Office of Macao S.A.R. on 20th November 2014 in Macao. Representatives (Economic Crime Investigation Department) from the Ministry of Public Security of People's Republic of China, Public Prosecutions Office of Macao S.A.R., Judiciary Police of Macao S.A.R. and UnionPay International attended the meeting. The exchanges of views focused on cross-border criminal activities related to the use of Mainland bank cards and POS machines in Macao. With an aim to establish the legal basis for law enforcement agencies of Macao in pursuing "cross-border criminal activities related to Mainland bank cards and POS machines", it is conferred to formalize an effective reciprocal surveillance mechanism between Mainland China and Macao.
In the 17th Annual Meeting of the Asia Pacific Group on Money Laundering (APG), the People's Bank of China and AMCM have had discussions on cooperation and communication on combating money laundering issues. They have confirmed their intention to sign a Memorandum of Understanding of supervisory cooperation on anti-money laundering issues. In this regard, the participants of the meeting expressed their determination in combating the utilization of Macao for overseas money laundering activities and capital flight.
AMCM has been adopting stringent supervisory measures on China UnionPay card acquiring business. Other relevant government agencies also endeavor to combat the cross-border criminal activities involving the use of Mainland bank cards and POS machines in casinos. In addition, with the aim to promote sound development of related business operations, AMCM, through the use of advanced technological measures, is modifying or strengthening related risks management and on-going due diligence requirements in accordance with market development and changes. Previously, it has been imposed that all acquiring institutions in Macao have to terminate their China UnionPay acquiring service to all watch and jewelry shops located inside casinos from 1st November 2014. The implementation of various supervisory measures in succession indicates the efforts and determination of AMCM in the prevention and elimination of the illegal acts.
Relevant issues on the on-going efforts of regulating merchants, transaction monitoring, investigation, consultation and training with respect to cross-border crimes in relation to the use of Mainland bank cards and Mainland POS machines in Macao were comprehensively discussed in the meeting. All participants of the meeting acknowledged the importance of persistent endeavor and determination on the issues. Besides, advanced technological means of real-time monitoring system and effective enforcement of laws and the joint efforts from different parties are essential to achieve the goal of combating cross-border criminal activities involving the use of Mainland bank cards and POS machines in Macao.
