Macau Country Summary
Sanctions
No
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF status
Macau is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Macau was undertaken in 2019. According to that Evaluation, Macau was deemed Compliant for 22 and Largely Compliant for 18 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 6 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
Macau, as a member of the United Nations, must adhere to the sanctions measures established by the UN Security Council to promote international peace and security. Since 1966, the Security Council has implemented 31 sanctions regimes, which include various measures such as economic sanctions, arms embargoes, and travel bans, with a focus on protecting the rights of those targeted. Currently, there are 15 ongoing sanctions regimes aimed at addressing conflicts, nuclear non-proliferation, and counter-terrorism, all managed by a sanctions committee.
The UK has enforced an embargo on certain military items against mainland China since 1989, which was extended to Macau after its handover in 2000. This embargo includes lethal weapons, military aircraft, and equipment that could be used for internal repression, reflecting the UK's stance on military trade with the region.
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | 80 |
Macau has implemented anti-corruption laws since 2006, following the extension of the United Nations Convention Against Corruption, which are enforced fairly across both public and private sectors. The Commission Against Corruption (CCAC) plays a key role in promoting anti-corruption measures and has introduced guidelines for private companies, while the new Public Procurement Law enacted in 2021 aims to improve transparency in public procurement processes.
Economy
Macau operates as a liberal economy and free port, heavily reliant on gaming and tourism, which are the primary drivers of its economic growth. In 2023, the gaming sector generated $22.8 billion in gross gaming revenue, marking a significant recovery post-pandemic, although it still fell short of pre-pandemic levels. The government is actively pursuing diversification efforts to reduce dependence on gaming by investing in sectors such as meetings and exhibitions, traditional Chinese medicine, and advanced technology.
Macau offers a transparent and investor-friendly environment, with no restrictions on foreign investment and low corporate tax rates. The government has committed to diversifying the economy beyond gaming and tourism, with significant investments planned by gaming concessionaires in non-gaming projects. Additionally, various infrastructure projects are underway to support this diversification effort.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
