The Financial Intelligence Office (GIF) and Macau Institute of Financial Services jointly organized a seminar on Anti-money laundering and Counter-terrorist financing (AML/CFT) for all Macao’s financial practitioners on 14th December 2018. The topics covered:
- Macao’s AML/CFT laws and regulations:
- Introduction of Law No. 6/2016 – Asset Freezing Regime and its implementation
- International Trend: Risk-based guidance for insurance sector
- Recent typologies from suspicious transaction reports
In order to strengthen the professional knowledge on AML/CFT among the practitioners from banking and insurance sectors as well as staff from supervisory agencies, this seminar aimed to present to the practitioners the area that they need to be aware of and to comply with when conducting financial services.
In addition, being the Secretariat of the Asset Freezing Coordination Commission, GIF introduced the contents of the law “Asset Freezing Regime”, relevant implementation measures and case studies to the practitioners. GIF also explained in detail the emergency mechanism (especially during holidays and public holidays) for reporting freezing actions and related reporting timeline requirement, to ensure the effective implementation of Law No. 6/2016. The seminar attracted about 150 practitioners from the banking and insurance sectors to attend.
