Macau Intensifies Fight Against Illegal Forex with New Legislation

Since the criminalisation of unauthorized foreign exchange for gambling in Macau, the authorities have apprehended 597 individuals between the law's inception on October 29, 2024, and July 31 of this year. This new law, framed under the "Law to Combat Crimes of Illegal Gambling," has created a distinct offense aimed at curbing these illicit activities. A statement from the Office of the Secretary for Security in the Macau government revealed these figures on Monday, reinforcing the administration's focus on suppressing unlawful transactions.

However, details regarding the detained individuals were not divulged, though it was noted that these detentions followed investigations into 387 cases of "illegal money exchange." The investigations have led to the seizure of approximately HKD71 million (US$9.1 million), inclusive of more than HKD56 million in cash and over HKD15 million in gaming chips.

Implications and Enforcement of the New Law

In Macau, unauthorized foreign-currency exchange conducted with the intent of participating in gambling, whether inside casinos or outside, is deemed a criminal activity. Those convicted under this law might face a prison sentence of up to five years, along with a possible ban from entering Macau casinos ranging from two to ten years. The legislation also provides for the possibility of charging individuals under the general penal code with "criminal association," leading to additional penalties. According to the Macau authorities' statement, "in recent years, with the continued increase in tourist numbers, the number of individuals engaging in 'illegal money exchange' [activities] in and around Macau’s casinos has also increased."

This underscores the reason for the stringent measures being employed. The government's tactic involves "pursuing intelligence-driven criminal investigations, adjusting combat and prevention strategies, deepening cooperation in law enforcement, and rigorously combating these crimes." Such strategies have reportedly shown significant success since the enactment of the new law, effectively disrupting illegal foreign exchange networks.

Collaborative Efforts to Counter Cross-Boundary Crime

The Secretary for Security, Wong Sio Chak, noted that the criminalisation of these unlicensed money exchanges has been crucial in stopping such illegal activities. He reported in April that these measures have been effective, a sentiment echoed by the director of Macau’s Judiciary Police, Sit Chong Meng, who highlighted in July a 62.9-percent year-on-year increase in gaming-related crimes for the first five months of the year. The rise is largely attributed to cases involving illegal money exchanges related to gambling.

Moreover, the push against illicit forex operations saw further momentum from a concerted effort by police forces across Macau, Guangdong, and Hong Kong. These entities collaborated from August 4 to September 6 to "prevent and combat cross-boundary crime," investigating 62 cases of "illegal money exchange" for gambling. This initiative resulted in the detention of 100 individuals, symbolizing a significant step in tackling the pervasive issue of unauthorized forex dealings.

Source: Nearly 600 forex crime suspects held since new Macau law, over US$9mln seized: govt, GGRAsia, September 15, 2025.

Posted by Wizard
Sep 16 2025