A jewelry store located in the Cotai Strip integrated resort in Macau is under investigation by the Judiciary Police for allegedly conducting illegal currency exchanges for gamblers. Preliminary estimates suggest that the amount involved reaches approximately $24 million. During the operation, two local employees were arrested, and two mainland gamblers were taken as witnesses.
Case Details and Arrest Operation
This Tuesday morning, the Judiciary Police launched a raid. The two arrested employees, aged 30 and 29, are sales clerks in the store and reportedly receive a fixed monthly salary. One of their job duties was to assist gamblers with money exchanges, after which these gamblers would directly enter the casino. Also intercepted during the operation were two middle-aged mainland witnesses, who reportedly had just arrived at the store before the police raid. How was this case discovered? It turns out that in mid-November, the police received a tip-off that this jewelry store located in the Cotai Strip resort was secretly operating an "underground bank" business.
Enforcement Process and Involved Methods
After a period of surveillance, the police confirmed that gamblers were exchanging funds at the store and then heading straight to the casino. Around 11 a.m. on Tuesday, officers took action, intercepting two employees and two gamblers both inside the store and in the casino gaming area. According to the police, gamblers exchanged money through QR code transfers arranged by the store, for example, exchanging 1,000 yuan for 1,000 Hong Kong dollars, or 19,000 yuan for 20,000 Hong Kong dollars. The store had only opened in August last year, but investigators suspect it may have started this "side business" as early as July this year or even earlier. During the operation, the police seized about $107,600 and $1,300 in cash suspected of being used for exchanges, as well as mobile phones and a cash counting machine.
Macau Regulatory Background and Industry Impact
This case has attracted attention because it hits directly at the focus of Macau's regulations. Starting from October 2024, Macau has officially criminalized the act of currency exchange for gambling purposes, with violators facing up to five years in prison. This enforcement action is a strong implementation of the new regulations, demonstrating the regulatory authorities' determination to combat illegal capital flows. For the gambling industry, compliant cash flow management is increasingly crucial, and related developments can be continuously monitored through professional platforms such as PASA official website. This case also serves as a reminder to all merchants in Macau, especially those located around casinos, to strictly comply with anti-money laundering regulations.
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