MSAR Government’s Response to the comments of the officials of the U.S. Government on the anti-money laundering measures taken by the MSAR Government

The Macao Special Administrative Region (MSAR) Government is highly concerned in regards the accusation by the U.S. Government about Banco Delta Asia, Macao, and regrets the comments of the officials of the U.S. Government on the anti-money laundering measures taken by the MSAR Government. The SAR Government, under the leadership of the Central Government, has strictly observed the Resolutions of the United Nations in relation to anti-terrorism and has dedicated efforts to deter and suppress illegal financial activities. The Monetary Authority of Macao (AMCM) of the MSAR exercises its supervision on all authorized financial institutions under a stringent regulatory framework, while the prevention of money laundering is one of its unwavering missions. Drawing on international experience and techniques on anti-money laundering, the AMCM established guidelines to combat money laundering in accordance with the Forty Recommendations for anti-money laundering (AML) and the Nine Special Recommendations for combating the financing of terrorism (CFT) issued by the Financial Action Task Force on Money Laundering (FATF). Being an active member of the Asian Pacific Group on Money Laundering (APG), the AMCM has been keeping close dialogues with the Group. As the drafting for AML and CFT laws initiated by the MSAR Government is in serious progress, comments have been received from the APG through relevant government agencies. The draft bills are expected to be finalized and put through the legislative process in the near future. The AMCM has already set up a special team to conduct investigation in regards the circumstances of Banco Delta Asia.