Macao’s Anti-Corruption Agency Cracks Down on Bribery and Corruption in Finance

Under the principle of ‘One Country, Two Systems,’ Macao has its independent legal system and judicial power to enforce anti-corruption laws. The Commission Against Corruption (CCAC) is responsible for enforcing these laws, covering corruption acts in public and private sectors.

Macao’s Anti-Corruption Laws

Macao’s anti-corruption laws, as outlined in the Penal Code and the Prevention and Suppression of Bribery in the Private Sector law, cover:

1. Bribery Offenses

   • Offering bribes
   • Accepting bribes

2. Fraud Offenses

   • Abuse of trust
   • Fraud
   • Embezzlement
   • Forgery of documents

Types of Corruption Offenses

Bribery Offenses

Bribery offenses can be categorized as:

• Offering bribes
• Accepting bribes

Public vs. Private sectors

In both sectors, these offenses apply:

• Public sector: Any public servant, including those involved in financing credit institutions
• Private sector: Anyone, including employees, entrusted persons, or agents

Investigations by CCAC

The CCAC maintains a ’no-complaint-no-action’ stance for most bribery investigations. However, circumstances like endangering individuals’ safety or lives or using public funds can lead to public crime declarations.

CCAC’s Role in the Financial Industry

Businesspersons in the financial industry are encouraged to:

1. Stay informed about anti-corruption legislation and regulations
2. Seek counsel from the CCAC and legal experts to ensure full compliance
3. Report any unlawful acts related to corruption

Conclusion

Though these laws may appear stringent, they are fundamental for preserving Macao’s reputation as a trusted financial center and for promoting fair competition and honest dealings among all market participants.