Financial Crime World

Macao’s Crusaders against Financial Crime: The Anti-Money Laundering Specialists Association Takes Center Stage

Macao’s “Macau Anti-Money Laundering Specialists Association” (MAMLSA), established in 2017, has been a trailblazer in Macao’s war against financial crimes. With the Macao Special Administrative Region (SAR) government’s backing to cultivate anti-money laundering (AML) professionals, MAMLSA aims to strengthen Macao’s position as a global financial hub with robust AML practices.

Association’s Origins and Objectives 🌱

Dedicated to promoting AML work in Macao, MAMLSA is home to over 600 individuals and growing. More than 90% of the membership base holds the prestigious title of Certified Anti-Money Laundering Specialists (CAMS).

The Association’s diverse membership spans:

  • Academia
  • Accounting & Auditing
  • Banking & Finance
  • Insurance
  • Gaming
  • Hotel
  • Legal
  • Media
  • Pawnbroking sectors, and beyond

Under the leadership of its current President, Mr. Chan Weng Tat, MAMLSA champions the cause of AML in Macao, aligning with the region’s “going out and inviting in” policy. This inspires international collaboration and enhances Macao’s professional AML capabilities.

MAMLSA’s Role in Macao’s International Recognition 🌍

The Association’s significant contributions are reflected in Macao’s successful 2019 evaluation by the Asia/Pacific Group on Money Laundering (APG). Macao became the first APG member nation to comply fully with all 40 international legal and technical compliance standards set by the Financial Action Task Force. This achievement not only confirms Macao’s robust AML framework but also garners international recognition.

MAMLSA members have distinguished themselves as Macao’s representatives in global forums such as:

  1. The Asia/Pacific Group on Money Laundering
  2. The Eurasian Group on Combating Money Laundering and Financing of Terrorism
  3. The Financial Action Task Force

By actively participating in these organizations, members showcase the region’s commitment to combating financial crimes.

For further details and membership inquiries, interested parties are invited to visit the MAMLSA website.