The "significant increase" in the number of questionable transaction reports (STRs) in Macau's gaming sector in the first half of 2024 compared to the same period last year was mainly due to a "rebounding economy and a significant increase in visitor arrivals" during the period. This followed a response from the city's financial intelligence bureau to GGRAsia inquiries.
Another source of increase was "continued investment in resources" from the casino sector to uncover questionable deals, the office said.
Macau's gaming sector recorded 2,181 STRs in the first six months of this year, up 56.7% year-over-year.
The transaction of converting cash into gambling chips without gaming remains one of the most common STR types in the Macau gaming sector in the first half of this year, the office told GGRAsia.
In an emailed statement, the department outlined typical triggers for the Macau Casino STR, which was reported from January to June. "The STR reported by the gaming division includes various types of gaming activities, including chip switching, chip switching on behalf of third parties, currency exchange, and cash switching, with or without gaming activities to a minimum."
The pattern has been consistent since 2019, the office noted. It did not disclose the weighting by activity type for the full gaming segment STR in the first half of 2024.
According to existing gaming sector guidelines in place by the Game Rating and Coordination Administration since January 2019, suspicious transactions are defined as transactions involving gambling operations with unusual characteristics or complexity that indicate signs of money laundering or terrorist financing.
The reporting entity within the sector must register these suspicious transactions, regardless of the value of the transaction.
In a response to GGRAsia, the Financial Intelligence Agency did not disclose how many gaming division STRs were delivered in the first half of 2024 by the city attorney's office for further consideration.
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