Recent joint operations by mainland China and Macau authorities targeting unauthorized currency exchange around Macau casinos have led to the detention of 252 suspects.
These individuals are believed to be intermediaries in an illegal foreign currency trade, which authorities estimate to be worth RMB3 billion ($420 million).
China’s Ministry of Public Security disclosed more details on Tuesday, revealing that 1,200 police officers were involved in the operation. Of the 252 suspects, 57 were arrested by Macau police and have since been handed over to Chinese authorities.
The crackdown targeted not only Macau but also the Chinese provinces of Guangdong and Jiangxi, where authorities encountered a total of 19 criminal syndicates.
China’s Ministry of Public Security indicated that these suspects had formed criminal gangs linked by family, relatives, and friends. Gang leaders issued remote commands while members were assigned roles such as withdrawing cash from banks, connecting with underground money exchanges, and recruiting clients for currency exchange near Macau casinos and hotels.
These gangs have been engaged in illegal foreign exchange activities in Macau for an extended period, ‘involving significant sums of money’ and ‘causing severe disruptions to social security in the region’.
The Ministry of Public Security also announced that public security agencies will continue their specialized crackdown actions, oversee and handle major cases, ‘maintain a high-pressure stance’, and ‘resolutely curb the development and spread of illegal activities derived from money exchange gangs’.
Earlier this month, the Second Standing Committee of the Macau Legislative Assembly changed its stance and agreed to criminalize money exchange gangs.
Previously, the government had opposed this move, citing the complexities involved in legal adjustments. However, intensified efforts by both mainland Chinese and Macau police, including a recent murder case at a Macau hotel, have spurred renewed debate on the issue.
According to the lawmaking entity, a new provision will be added to the Illegal Gaming Offense bill. The new article, titled “Unlawful Exchange of Money for Betting,” specifies that anyone conducting a business of exchanging loans and coins for gambling purposes without legal authorization faces a maximum penalty of up to five years in prison. The minimum penalty is set at one-month imprisonment.
Additionally, the provision includes that any unauthorized money exchange activities conducted in a casino or its ancillary facilities—such as hotels, entertainment complexes, or other commercial establishments considered part of an integrated resort—will be classified as an offense.
