Macau Country Summary
Medium-Low Risk
View full Ratings TableSanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Lower Concern
Corruption
Lower Concern
US State ML Assessment
Higher Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Macau is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Macau was undertaken in 2019. According to that Evaluation, Macau was deemed Compliant for 22 and Largely Compliant for 18 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 6 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
Macau is subject to United Nations Security Council sanctions, implemented through its Asset Freezing Coordination Commission, including regimes under Resolution 1267(1999) (terrorism), Resolution 1718(2006) (North Korea), Resolution 1988(2011) (Afghanistan), and the Iran-related measures under Resolution 1737(2006) which expired in October 2023 and were formally removed from Macau's sanctions list in August 2024. Beyond UN measures, the United Kingdom maintains a partial arms embargo on Macau in place since 2000, covering lethal weapons and related equipment, and the United States imposes export controls on advanced computing and semiconductor items, while the European Union does not maintain autonomous sanctions targeting Macau.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | 79 |
Macau has established a robust legal framework to combat corruption, including laws that apply to both public officials and the private sector, with effective enforcement mechanisms in place. The government has also taken steps to enhance transparency in public procurement processes, reflecting a commitment to resilience against corruption and the promotion of ethical conduct within the business community.
Economy
Macau, a Special Administrative Region of China, operates under a "One Country, Two Systems" framework, ensuring a high degree of autonomy and a liberal economy characterized by a free-market system. The economy is heavily reliant on gaming and tourism, which serve as its primary economic pillars, although there are ongoing efforts to diversify into sectors such as meetings and conferences, traditional Chinese medicine, modern financial services, and advanced technology. The government maintains an investor-friendly environment with low corporate taxes and no restrictions on foreign investment, while also implementing policies to attract substantial investments, particularly in non-gaming projects, to reduce dependence on mainland Chinese tourists and enhance economic resilience.
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