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Macau Reports Fewer Suspicious Transactions in 2022
Macau has always wanted to make sure that its gambling industry is kept under control. A stat that tracks the number of Suspicious Transaction Reports (STRs) has indicated that the year-over-year number of such incidences dropped by 13.4% to 1,677 in the first nine months of 2022. This has to do partially with the fact that the gaming sector has been reporting fewer STRs due to closures and shaky recovery.
Gaming Continues to Contribute to Bulk of STRs
The Financial Intelligence Office said that the number of signals by casino operators was down 15.5% to 866 in the surveyed period. The gaming sector still continues to generate the bulk of all STRs, though. The gaming sector accounted for 51.6% of all such reported signals. Financial institutions reported another 429 STRs during the surveyed period.
In August, Macau’s secretary for security announced that the number of gaming-related crimes had dropped significantly during the first half of 2022. The cases of casino fraud were down by 56%, the secretary reported at the time, with a total of 54 cases during the first half of the year.
Another 13 cases pertained to theft that happened on the premises of casinos. A single murder case was listed. Overall, the police apprehended 2,725 and branded them as illegal money changers. However, the overall number of crimes dropped noticeably during the period, down 45% from the first half of 2021.
Macau also took massive action against junket operators, limiting their number severely over the past year in response to China’s determination to ensure that citizens are protected. Macau is also undergoing a rapid revamp of its gambling rules with concessionaires looking to renew their licenses and facing a ream of new requirements to be eligible.
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
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