Macau Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Low Concern
Corruption
Low Concern
US State ML Assessment
High Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
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 UN member, must adhere to sanctions imposed by the United Nations to maintain international peace and security. The UN Security Council has established 31 sanctions regimes since 1966, which include various measures such as economic sanctions and arms embargoes, focusing on political settlements and counter-terrorism efforts.
Currently, there are 15 ongoing sanctions regimes, and the UK has enforced an embargo on military items against mainland China since 1989, which was extended to Macau in 2000. This embargo includes lethal weapons and equipment that could be used for internal repression.
Bribery & Corruption
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | 79 |
Mainland China extended the United Nations Convention Against Corruption to Macau in 2006, leading to the establishment of laws aimed at combating corruption among public officials and in the private sector. These anti-corruption laws are enforced fairly, with penalties for bribery that can include jail time or fines. The Commission Against Corruption (CCAC) provides guidelines for private companies and has implemented a new Public Procurement Law to improve transparency in public procurement processes.
Economy
Macau's economy is primarily driven by gaming and tourism, with the gaming industry being its most significant economic pillar. In 2023, Macau recorded a gross gaming revenue of $22.8 billion, marking a substantial recovery from the previous year, although it has not yet returned to pre-pandemic levels. The Government of Macau is actively working to diversify the economy by attracting foreign investment and promoting sectors such as traditional Chinese medicine, financial services, and advanced technology.
Macau offers a transparent and investor-friendly environment, with no restrictions on foreign investment and a commitment to maintaining a free-market economy. The government has encouraged substantial U.S. investment, particularly in the gaming and tourism sectors, and aims to diversify its economy by attracting foreign investment in various sectors, including modern financial services and advanced technology. Recent gaming concessions awarded to U.S. firms and a commitment of $15 billion in investments from concessionaires highlight Macau's ongoing efforts to enhance its investment climate.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
