NB shares out experience and expertise in Macao
The Financial Investigations Division of Narcotics Bureau and the Monetary Authority of Macao have joined hands to run the first Financial Investigation Course in Macao for law enforcement agencies of the Macao SAR.
Following the success of a one-day seminar on money laundering for Macao SAR officials and members of the financial institutions, which took place in 2002, the investigation course was held between July 14 and 16.
The course has attracted 42 government officials, which included members of the Gaming Inspection & Co-ordination Bureau, Commission Against Corruption, Judiciary Police, Macao Economic Services, Public Security Police, Office of the Secretary for Economy and Finance, Customs Service, Financial Services Bureau, Macao Trade and Investment Promotion Institute, Unitary Police Service and Monetary Authority of Macao. The course provided them with the knowledge and skills to better understand money laundering and to conduct financial investigations.
The Chairman of the Monetary Authority of Macao, Mr Anselmo Teng Lin Seng, pointed out in his opening address that liberalisation of the gaming industry in Macao had pushed investment expenditure onto a fast growth track and the economy of Macao would enter into an era of development, which would be driven by tourism and gaming, with focus on commercial services and supporting industries. Macao had revised the guidelines for financial institutions on anti-money laundering. To strengthen the overall anti-money laundering system in the enclave, the Monetary Authority of Macao co-coordinated with other responsible government agencies in a special working group to revise relevant laws and conduct training and public awareness programmes.
Mr Teng stressed that Macao was committed to fighting money laundering and terrorist financing. He thanked the Force for organising the course and passing on expertise to Macao government officials.
Speakers from a variety of professions, including a veteran compliance officer of an international bank in Hong Kong, and officials from the Public Prosecution Office of the Macao SAR and the Gaming Inspection & Co-ordination Bureau, had addressed the participants on a number of anti-money laundering issues, including development of an effective legal and financial regulatory framework, intelligence exchange, management of financial investigations and international co-operation.
The course had also provided a platform for sharing experiences and discussing the multi-jurisdictional and multi-agency approach against money laundering.
On the conclusion of the three-day course, the participants were very impressed with the lectures delivered and the Force's willingness to share knowledge and expertise, and co-operate actively with jurisdictions all over the world.
NB's presentation draws a big audience