The 1st Plenary Meeting of the Interdepartmental AML/CFT Working Group this year was held on 2 August 2024
The Interdepartmental Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) Working Group with its members from the Public Prosecutions Office, the Commission against Corruption of Macao, the Macao Customs Service, the Legal Affairs Bureau, the Monetary Authority of Macao, the Gaming Inspection and Coordination Bureau, the Macao Economic and Technological Development Bureau, the Financial Services Bureau, the Judiciary Police, the Public Security Police Force, the Housing Bureau, the Independent Committee for the Exercise of Disciplinary Power over Solicitors, and the Financial Intelligence Office of the Unitary Police Service (the coordinating agency), held the first plenary meeting of the year on 2 August 2024. Around 60 representatives from 13 member agencies participated in the meeting, including directors, department and division heads, as well as relevant operational staff.
In this plenary meeting, a summary report for the publicity work in relation to the explanatory sessions titled “Macao Special Administrative Region Risk Assessment Report on Money Laundering/Terrorist Financing/Financing of Proliferation of Weapons of Mass Destruction”and the feedback survey conducted along with this risk assessment report was presented. The Working Group members also discussed at the meeting how to strengthen the legal framework of the Macao SAR in preventing and combating money laundering crimes. Participating representatives also actively exchanged opinions on the follow-up issues arisen from the latest revised Mutual Evaluation Methodology of the international organization “Financial Action Task Force” at the meeting.
In order to protect Macao’s financial system from being misused by criminals to carry out money laundering or other financial crime activities, the Working Group holds regular meetings every year and members keep reviewing current laws, regulations and international standards to establish an effective sound legal framework. The Working Group also coordinates with the public and private sectors and utilize the resources of international organizations to jointly prevent and combat money laundering and related predicate offences, with an aim to play an active and effective role in law enforcement, supervision and policy implementation. At the same time, through the efforts of member agencies of the Working Group, educating the public and raising public awareness, encouraging the public to jointly participate in preventing and combating money laundering, so as to build an effective public-private partnership.
