Authorities in China, working alongside enforcement agencies in Macau, have successfully shut down major illegal currency exchange operations that were operating in and around Macau casinos. A total of 252 suspects have been detained in connection to this extensive illicit trade, valued at around CNY 3 billion (US$420.6 million). This crackdown is part of a larger effort by China’s Ministry of Public Security to tackle illegal financial activities linked to the gambling industry in Macau.
A massive network of syndicates has been uncovered as a result of these operations. The Ministry of Public Security announced that 19 syndicates involved in unauthorized currency exchange have been disrupted, with operations not only in Macau but also in mainland cities like Nanchang and Zhuhai. Approximately 300 individuals are believed to be part of these syndicates, with many of them connected through family ties, friendships, or shared hometowns. These criminal groups were highly organized, taking orders remotely to engage in activities like withdrawing cash from banks, connecting with underground banking networks, and recruiting customers for illegal currency trading within Macau’s casinos and hotels.
The Ministry of Public Security emphasized the broader impact of illegal currency trading in Macau, citing crimes such as scams, robberies, and illegal immigration. There has been a worrying uptick in the number of individuals involved in this illegal trade in recent years. The joint operations involving police forces from Jiangxi, Guangdong, and Macau led to the detention of 252 suspects, with 57 mainland Chinese individuals handed over to mainland authorities by Macau police. This coordinated crackdown, referred to as “ant eradication,” highlights the systematic and widespread nature of the illegal activities being targeted.
The Ministry of Public Security has made it clear that this crackdown on unauthorized currency exchange activities in Macau is ongoing. Mainland security authorities will continue to aggressively pursue individuals and groups involved in these illegal operations to maintain financial order and public security. The Macau government has responded to the issue by proposing stricter regulations, including an amendment to the “Law to Combat Gambling Crimes” that would criminalize unauthorized money trading not only within gaming areas of casinos but also in non-gaming zones associated with these venues.
