SBC News Voice of the Sports Betting Industry
Macau’s is set to be targeted by Chinese security chiefs who are preparing to launch a top tier offensive against money laundering and financial crime.
China’s Ministry of Public Security will lead the clampdown in Asia’s gambling capital, as Chinese officials aim to attack major crime syndicates operating in Macau. The clampdown forms part President Xi Jinping’s ongoing war on corruption.
The South China Morning Posts has reported that Chinese officials are deeply concerned with crime syndicates laundering overseas money through Macau gambling services. The Ministry of Public Security wants tighter security controls over the region.
The plans to fight corruption in Macau, were announced as XI Jinping prepared to travel to Macau for the commemorations of the 15th anniversary of the formers colony’s return to Chinese governance in 1999.
Earlier this year, XI Jinping had warned Macau officials that the province needed to end its sole reliance on gambling and look to attract other business industries to operate in the region. The Chinese government stated that it would support Macau as it looks to grow its industry outside of gambling.
Macau’s International gambling operators have welcomed the news of China targeting major crime syndicates as the region looks to reinvent itself as a family entertainment destination.
