Financial Crimes Against Individuals in Macao Face Tougher Scrutiny

The Commission Against Corruption (CCAC) in Macao has just received a major boost in its efforts to tackle financial crimes against individuals. The Legislative Assembly has unanimously passed a bill that expands the agency’s role, allowing it to take on more complex corruption cases and improve transparency and accountability.

New Law Brings Greater Powers to CCAC

Under the new law, public entities will be able to invite the CCAC to conduct on-site monitoring of administrative processes. This will enable the agency to:

• Increase Transparency: By allowing for greater access to information, the CCAC can better identify potential corruption schemes and take action accordingly.
• Improve Accountability: Public entities will be held more accountable for their actions, reducing the risk of corrupt practices going unchecked.
• Enhance Auditing Capabilities: The CCAC will have the ability to conduct more thorough audits of public administration, helping to prevent financial crimes against individuals.

The Need for Action

The motion for the amendment was sparked by a growing concern about corruption in Macao. In recent years, several high-profile cases have been uncovered, involving senior officials such as:

• Jack Chang: Former president of the Institute for Promotion of Trade (IPIM)
• Jaime Carion: Ex-public works director
• Li Canfeng: Ex-public works director

These cases highlight the need for a more robust anti-corruption agency, capable of tackling complex corruption schemes.

A Significant Step Forward

The new law is expected to improve working conditions for CCAC investigators and strengthen ties with other anti-graft organizations. This marks a significant step forward in the fight against financial crimes against individuals in Macao, and is likely to be welcomed by locals and foreign investors alike.