As reported by Asia Gaming Brief, the Monetary Authority of Macao (AMCM), Macau’s financial regulatory body, released “updated industry guidance on Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) controls” created for gaming-related clients.
New bans:
In compliance with document published by the Financial Intelligence Office, the latest updated guidance specify that banks in Macau are forbidden from creating any kind of business relationship with foreign gaming companies. Additionally, it prohibits affiliated firms and junket promoters of foreign gaming companies from easing the motion of funds for gaming-related activities outside Macau. However, this guidance acts as a supplement to the AML/CFT Guideline by the AMCM,…