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Report: Macao has potential for money laundering and terrorist financing

11 August 2010

MACAO -- A just published report from the US State Department "Country Reports on Terrorism 2009" cites Macau as a "potential site for money laundering and terrorist financing activities," Macau Business reported.

The report acknowledges the country has made progress in tackling suspicious transactions but the amount requiring report remains much higher than in other countries, the Macau Business report said.

Macau authorities have more to do in this area in order to combat these issues, the report said.

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