The Monetary Authority of Macao (“AMCM”) has always been highly concerned about the anti-money laundering and combating the financing of terrorism monitoring measures of the financial sector and has formulated the “Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Guideline” in accordance with international standards set out by the “Financial Action Task Force (FATF)”.  The AMCM has always made it clear that all financial institutions must strictly abide by the relevant laws and regulations, including compliance with relevant AML/CFT regulatory and supervisory requirements.

According to the AML/CFT Guideline of the AMCM, all financial institutions authorized to operate in Macao including banks should establish and implement an adequate and appropriate AML/CFT system.  Based on a risk-based approach, these institutions should conduct appropriate and reasonable due diligence at account opening and when conducting transactions.  All financial institutions should also set up an effective monitoring mechanism to identify any unusual transaction patterns and make a suspicious transaction report to the Financial Intelligence Office (“FIO”).