Macau will sign an anti-money laundering and anti-terrorist financing agreement with the United States, according to an executive order published in the Official Gazette (BO) Monday.
The order issued by Chief Executive Fernando Chui Sai On authorises Secretary for Economy and Finance Francis Tam Pak Yuen to sign a memorandum of understanding (MoU) with the Crimes Enforcement Network of the US on the exchange of financial information related to the prevention and repression of the crimes of money laundering and terrorist financing.
The order adds that the authorisation can be passed on to the director of the Financial Intelligence Office (GIF). The office is currently headed by Ng Man Seong.
The order, which takes effect today, does not say when and where the deal will be inked by the two sides.
Official sources have said that Tam will leave his post before Chui starts his second five-year term on December 20.
Tam has been in the post for 15 years.(macaunews/macaupost)