An organized crime gang running a suspected counterfeit chip operation at a Macau casino has been identified, with five participants arrested, according to Macau Business. The scam allegedly caused losses to the casino of about HKD1.62 million ($210,000).
A total of 33 fake chips were seized by the Macau Judiciary Police. Five Mainland China residents were detained, with at least one still at large.
The probe began on January 20 when a casino dealer in Cotai reported discrepancies in a batch of 25 chips, each worth HKD10,000 ($1,279). Investigators determined that the chips were actually valued at just HKD100 ($12.79). They were modified to resemble the higher-value chips, then exchanged and laundered at baccarat tables.
The suspects have denied any involvement.
Macau casinos are on the alert for suspicious transactions after casino operators filed 3,431 suspicion transaction reports (STRs) in 2023. That was up 170 percent from the 2022 number, according to the city’s Financial Intelligence Office (GIF) and the highest number since GIF began publishing the data in 2006. Of the 2023 total, 116 were forwarded to the prosecutor’s office.
Macao News attributed the surge to the return of post-pandemic tourism, a strong rebound by the gaming industry, as well as stronger efforts by the industry to root out illicit transactions. Casino operators in the city are obligated to inform the government about any gambling transaction that exceeds MOP500,000 (US$62,075).
