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Chinese Casino Cash-Tracking Rules Imminent

4 August 2005

CHINA – As reported by the China Standard: "Casinos and junket agents will be required to track the identity of gamblers making cash transactions of more than HK$500,000, according to a draft bill to be presented to the legislature after next month's election.

"The requirement is part of a raft of new anti-money laundering measures intended to address criticisms by the United States and international agencies of Macau's present regulations.

"…Macau has long resisted setting a specific line for tracking gambling transactions, arguing that its casino industry is vastly different from that of the US because of the predominance of high-stakes play.

"…The Waldo and Sands Macau casinos already track the identity of customers making large cash transactions. Galaxy Casino's Waldo, records all VIP transactions of more than HK$100,000 and all transactions of more than HK$50,000 are reviewed by surveillance staff and pit bosses. Junket agents are also required to fully identify players, according to a policy statement…"

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