June 6 2016
Macau has introduced new anti-money laundering rules for its $29 billion casino industry, the world’s biggest, adding to costs for operators at a time when revenues have slumped to five-year lows.
The new regulations, published on the Gaming Bureau’s website this month, have been effective since May 13. They are far broader in scope than the last version issued in 2006.
The tighter regulations in Macau contrast with the lax money laundering laws of Manila where a lack of robust controls made it an easy target for a brazen cyber-heist from Bangladesh’s central bank.