Macau Country Summary

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.

Macau has established a robust legal framework to combat corruption, with laws that are effectively enforced and applied impartially across both public officials and the private sector. The government has also implemented measures to enhance transparency, such as the new Public Procurement Law, which standardizes procurement processes and provides guidelines for private companies to follow in order to prevent corruption.

Macau, as a Special Administrative Region of China, operates under a "One country, Two systems" framework, allowing it a high degree of autonomy and a liberal, free-market economy characterized by its status as a free port. The economy is primarily driven by the gaming and tourism sectors, which have seen significant growth following the easing of pandemic restrictions, with casino gross gaming revenue reaching $22.8 billion in 2023, although it has yet to return to pre-pandemic levels. Efforts to diversify the economy are underway, with the government encouraging foreign investment in various sectors, including meetings and conventions, traditional Chinese medicine, and advanced technology, while maintaining a transparent and investor-friendly environment.