Macau sees rise in suspicious transactions in 2024

Jenny Ortiz January 17, 2025

SiGMA news

Macau recorded 5,245 suspicious transaction reports (STRs) in 2024, marking a 13.7 percent rise compared to 2023’s total of 4,614. According to the report, the increase was primarily attributed to a surge in reports from the financial sector, which accounted for 20.9 percent of the total. Reports from financial institutions and insurance companies rose by 23.7 percent year-on-year, from 887 in 2023 to 1,097 in 2024.

Gaming sector dominates reports

The gaming industry continued to dominate STR submissions, representing 73.2 percent of the total reports in 2024. Casino operators submitted 3,837 STRs, an 11.8 percent rise from the 3,431 recorded in 2023. Despite the increase in the number of reports, the proportion of gaming-related STRs saw a marginal decrease from 74.4 percent in 2023 to 73.2 percent in 2024.

***Data from Macau’s Financial Intelligence Office***.

Contributions from other sectors

Other institutions, including pawnshops, jewellery shops, real estate firms, and auction houses, contributed 311 reports in 2024, a modest increase of 5.07 percent compared to the 296 reports submitted in 2023. These reports accounted for 5.9 percent of the total, a slight dip from the 6.4 percent share in 2023.

Reports referred for prosecution

The government agency referred 142 STRs to the Public Prosecutions Office in 2024, 26 more than in 2023. This reflects an effort to address potential financial crimes amid the growing number of reports.

Gaming Bureau expands resources

In another development, Macau’s Gaming Inspection and Coordination Bureau (DICJ) initiated a restructuring process in 2025 to strengthen casino oversight. This includes hiring 65 additional inspectors to enhance the implementation of regulatory duties during the current gaming concession period. The expansion aligns with a law effective since 2021, which aims to increase the bureau’s workforce significantly over time.

Long-term trends in STRs

Since the reopening of Macau’s borders in 2023, the number of STRs submitted by gaming operators has seen a marked rise. From 1,215 in 2020 to 3,431 in 2023, this upward trend highlights the growing focus on compliance within the gaming industry. The 2024 figures further underscore this trajectory, with the sector maintaining its position as the largest contributor to STRs.

Macau, China’s Special Administrative Region (SAR), seeing rising STR numbers reflect heightened vigilance across financial and gaming sectors, coupled with efforts to strengthen regulatory frameworks. The continued emphasis on addressing suspicious transactions aims to safeguard the integrity of the city’s economic activities.

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