To enhance the prevention and combat of money laundering and terrorist financing, and improve the awareness and prevention capabilities of the financial sectors, the Financial Intelligence Office of the Unitary Police Service (GIF) had provided 4 training sessions on anti-money laundering to various banks in the first half of 2024, training a total of 460 banking practitioners. In the second half of the year, GIF proceeded with its last training program on “Preventing and Combating Crimes of Money Laundering and Terrorist Financing” (“AML/CFT”) for 15 financial institutions in Macao on 26 September 2024, with approximately 60 participants including senior management, compliance and other operational team officers, as well as frontline officers of these institutions.

During the training, representatives from GIF introduced its latest competency and relevant laws and regulations on preventing and combating crimes of money laundering and terrorist financing. They explained the definition of money laundering and its potential socio-economic harms, and shared latest international trends and case studies. In the meanwhile, the speakers also reminded financial institutions should strengthen internal controls, establish robust customer due diligence process, as well as promptly detect and report suspicious transactions to plug loopholes in money laundering.
 
GIF will continue to organize similar training activities in the future, promote more cooperation and exchange, aiming to enhance vigilance to money laundering risks of banking practitioners, improve compliance capabilities of financial institutions in preventing and combating money laundering, and raise awareness of preventing and combating financial crimes among various sectors and the public in Macao. Additionally, GIF will continue to promote more cooperation and exchange, hoping that through the joint efforts of the Macao SAR government and sectors, the safety and sustainable development of the Macao financial market environment can be maintained.