On 13th May 2008, the Financial Intelligence Office (“GIF” in Portuguese acronym) signed a “Cooperation Arrangement on Sharing of Financial Intelligence related to Anti-Money Laundering and Counter-Terrorist Financing” (“Cooperation Arrangement”) with the China Anti-Money Laundering Monitoring & Analysis Center (“CAMLMAC”). The Cooperation Arrangement was signed in Beijing by Ms Ng Man Seong, the Director of the GIF and Mr Wang Yanzhi, the Director-General of the CAMLMAC. The signing of Cooperation Arrangement marks a milestone in the journey of closer cooperation between the Mainland and Macao intelligence units, and symbolizes development of practical cooperation in the area of Anti-Money Laundering and Counter-Terrorist Financing.

One of the major functions of a Financial Intelligence Unit (“FIU”) is to carry out the exchange of financial intelligence with international and regional FIUs, which is also an essential requirement in the fight against cross-border money laundering and terrorist financing. In practice, FIU will generally sign a memorandum of understanding or an agreement with similar nature, as a pre-requisite to the international or regional cooperation. After signing of the Cooperation Arrangement between the GIF and the CAMLMAC, both parties will work closely in the area of collection, utilization and analysis of the financial intelligence in relation to money laundering and terrorist financing. In addition, a mechanism of regular information sharing, typology study and personnel interaction will be established.