Police in Macau and mainland China have arrested 65 people in a joint operation targeting a cross-border criminal syndicate that allegedly used illicit currency exchange services for Macau gamblers to launder at least RMB45.6 million ($6.7 million) in proceeds from telecom fraud and other crimes.
According to local media outlets, the authorities allege that the operation generated illicit profits of about RMB2.5 million ($0.37 million).
The coordinated enforcement action, conducted on April 16, dismantled a network spanning Macau, Zhuhai, and Guangxi Province.
Authorities said the group lured gamblers with favorable exchange rates, but instead used the transactions to channel illicit funds into mainland bank accounts, exposing victims to frozen accounts and potential criminal investigations.
Macau’s Judiciary Police detained 25 suspects locally, including 21 men and four women aged between 22 and 40. Two of those arrested are Hong Kong residents, with the remainder from mainland China. Mainland authorities simultaneously arrested nine additional suspects, including three alleged ringleaders.
Earlier investigations by police in Zhuhai, a neighboring city of Macau, had also led to the dismantling of 11 underground banking operations linked to the case, with 31 arrests.
According to police, the syndicate operated primarily near hotels in the NAPE district and Cotai, where members approached gamblers and offered above-market exchange rates to convert Hong Kong dollars or casino chips into renminbi.
After collecting cash or chips, the group transferred funds via bank accounts in mainland China. In many cases, recipients found their accounts frozen within days, or were later flagged by authorities as suspects for receiving fraudulent proceeds.
Investigators said the group used forged identification documents and fabricated bank transfer screenshots to gain victims’ trust, creating the appearance of legitimate transactions.
Seized items included equipment for producing fake documents, USB drives, tablets, and card shredders. Digital devices contained manipulated images of identification documents linked to multiple individuals.
Police added that the laundering chain also involved cryptocurrency channels, with funds ultimately routed to upstream telecom fraud networks.
An official from the Judiciary Police’s Organized Crime Investigation Division said the group relied on falsified identity records and transaction proofs to convince victims of the legitimacy of the exchanges while concealing the underlying criminal activity.
Those arrested in Macau face charges including money laundering, fraud, and document forgery.
The Anti-Illegal Gambling Crime Law took effect on October 29th, 2024, criminalizing illicit currency exchange activities conducted for gambling purposes. Since its implementation, authorities in Macau and mainland China have stepped up joint enforcement actions targeting cross-border crimes such as illegal exchange and money laundering.
According to official data, Macau’s Judiciary Police opened more than 2,300 investigations into gaming-related crimes last year, representing an increase of over 60 percent year-on-year. From the law’s implementation through the end of 2025, authorities uncovered 567 cases involving illegal currency exchange for gambling purposes, resulting in 867 arrests and the seizure of more than HK$94 million ($12 million) in cash and casino chips.
