Money Laundering in Macau

According to a report by the Congressional Executive Commission on China, up to $202 Billion in illicit funds is laundered through the casinos of Macau, a territory controlled by China. Up to 30 percent of all bets placed in Macau was estimated to have been illegally brought in to the country to be washed.

China places limits on the amount of money its citizens can carry in cash to Macau. On each trip,  a Chinese citizen can carry about $3,000 (20,000 Yuan), and up to $50,000 a year. In 2013, 17 million residents from mainland China visited Macau.

The average bet placed at a casino in Macau was at least $100.

(Additional money laundering examples.)

Source:  Jonathan Kaiman, “Macau is betting on a new kind of Chinese tourism,” Guardian, January 4, 2014.

 (More on laundering cash through betting machines.)