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China’s Ministry of Public Security meets to report on latest measures against Macau money exchange gangs

Pierce Chan by Pierce Chan
Fri 5 Jul 2024 at 13:18
China to crackdown on cross-border gambling promotion during Chinese New Year as deadline issued for surrender  
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China’s Ministry of Public Security held a meeting in Beijing on Friday where it continued discussions on the issue of Macau “money exchange gangs”, with officials arguing that the Ministry needs to maintain a strict, high-pressure crackdown on such outfits.

Public Security authorities previously held a meeting on 27 May on the fight against money exchange gangs and set up a special work plan. Friday’s meeting was primarily to report on the effectiveness of measures taken to crack down on illegal crimes derived from money exchange gangs.

At the meeting, Ministry officials pointed out that the Ministry attached great importance to the situation of Macau’s money exchange gangs and had deployed the mainland authorities to strengthen cooperation with the Macau police. Recently, they noted, the Guangdong police cracked down on three exchange fraud syndicates that used “practicing coupons” (non-genuine banknotes for bank staff to practice counting banknotes), detected five illegal money exchange cases, and cracked down on six clandestine money laundering operations, with 101 suspects arrested. The amount of money involved was RMB1.47 billion (US$202 million).

“In the next step, the Ministry will continue to maintain a strict and high-pressure crackdown on illegal crimes derived from ‘money exchange gang members’ and take a series of measures such as supervised handling and cluster battles in order to deeply push forward the work of special crackdown and remediation,” the Ministry said.

Macau’s Judiciary Police Director Sit Chong Meng also stated on Friday that “the Ministry of Public Security strongly supports the elimination of money exchange gangs in Macau. Public security authorities all over the mainland are cracking down on the related black and grey industries in a full chain, and have already achieved significant results.

“In recent months, there has been a drop in the number of illegal crimes involving money exchange gangs. The Judiciary Police will actively cooperate with the mainland public security authorities in special operations to rectify the illegal activities of money changers at the source.”

According to preliminary figures released by the Judiciary Police, the police seized 1,924 money changers between January and May of this year, which is a significant decrease compared to the same period last year when the police seized 7,851 money changers.

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Tags: BeijingChinaMacauMinistry of Public Securitymoney exchange
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Pierce Chan

Pierce Chan

With more than five years’ experience working as a journalist in Macau, Pierce is an experienced media operator with strong skills in news writing and editing. He previously worked with Exmoo, first as a reporter covering government, gaming and tourism-related stories, then as a Deputy Assignment Editor helping set the agenda of the day. Pierce is a graduate of the University of Macau.

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