Macau complies with all money laundering recommendations

8 October 2019

The Macau Special Administrative Region (MSAR) became the first member of the Asia Pacific Group on Money Laundering (APG) to secure a positive technical compliance rating on all 40 FATF recommendations from all members assessed globally so far, according to the Financial Information Office.

After approval by the plenary session of the APG, the first report on the MSAR’s progress in combating money laundering was subject to review by members of the International Financial Action Task Force (FATF) to ensure its compliance with international standards and the results were especially positive for the territory.

“Macau has made good progress in addressing the technical compliance deficiencies identified in its mutual evaluation report, including through drafting revised legislation and guidelines, and has been updated in three Recommendations,” according to the findings of the document.

The MSAR’s 2019 Progress Report (English only) is available from the website of the Macau Government Information Bureau (http://www.gif.gov.mo), the APG (http://www.apgml.org/news/details.aspx?n=1151) and the International Financial Action Task Force (http://www.fatf-gafi.org).

The APG was created in 1997, and Macau joined in 2001. The 41 regions that make up the APG are required to strictly comply with the standards set by the GAFI/FATF (Groupe d’action financière/Financial Action Task Force).  (Macauhub)

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