According to a UN official, illegal gangs are using casinos and online gambling sites in other parts of Asia to launder their dirty money as a result of China's crackdown on cross-border money transfers linked to Macau gambling.
The executive claims that many criminal organizations have moved their illegal operations elsewhere since China is now more vigilant about monitoring money transfers. According to the UN official, laundering money has shifted to Cambodia, Laos, Myanmar, Thailand, and Vietnam. Since China started to crack down on junket groups that had arranged for mainlanders to travel to Macau, casinos in those countries have reported increases in their annual gaming revenue. Due to the COVID-19 pandemic, criminal organizations have also shifted their money laundering activities to offshore gaming sites with lax money laundering regulations.
The executive claims that many criminal organizations have moved their illegal operations elsewhere since China is now more vigilant about monitoring money transfers. According to the UN official, laundering money has shifted to Cambodia, Laos, Myanmar, Thailand, and Vietnam. Since China started to crack down on junket groups that had arranged for mainlanders to travel to Macau, casinos in those countries have reported increases in their annual gaming revenue. Due to the COVID-19 pandemic, criminal organizations have also shifted their money laundering activities to offshore gaming sites with lax money laundering regulations.
