Gaming insights Gaming

China arrests 450 suspected of illegal money transfers

Written by Ben Blaschke

Chinese authorities have arrested 450 suspects in 2016 as they continue their fight against the illegal transfer of money out of the country.

According to a report by Bloomberg, the suspects are believed to have transferred a massive US$30 billion using underground banks that skirt the government’s radars.

Goldman Sachs analysts estimate US$8.3 billion exited China in July, up from US$7.4 billion in June. They have previously been as high as US$28 billion last December.

The crackdown is one of a number of factors that have impacted upon Macau’s gross gaming revenue in recent years.