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 United Nations member, is obligated to adhere to UN sanctions aimed at maintaining international peace and security. The UN Security Council has established 31 sanctions regimes since 1966, which include a variety of measures such as economic sanctions and arms embargoes, focusing on political settlements and counter-terrorism as of October 2023.
The UK has imposed an embargo on certain military items against mainland China since 1989, which was extended to Macau in 2000 after its handover. This embargo includes lethal weapons, military aircraft, 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 |
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 officials and the private sector. The Commission Against Corruption (CCAC) provides guidelines for private companies and is actively involved in international anti-corruption efforts. Additionally, the Government of Macau introduced a new Public Procurement Law in 2021 to improve transparency in 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 industry generated $22.8 billion in gross gaming revenue, significantly contributing to government revenue, while the government is actively pursuing diversification efforts into sectors such as financial services and advanced technology.
Macau offers a transparent and investor-friendly environment, characterized by no restrictions on foreign investment and low corporate tax rates. The government has actively encouraged substantial investments, particularly in the gaming sector, with U.S. investments estimated at $20 billion over the past decade, and a commitment from gaming concessionaires to invest $15 billion in diversifying the economy. Despite its heavy reliance on gaming and tourism, Macau is striving to develop sectors such as modern financial services and advanced technology.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
