The Macau Monetary Authority (AMCM) said in a statement yesterday that any individual or entity engaging in financial activities that are subject to supervision without official authorisation commits “a particularly serious offence”, warning that illicit encashments are punishable by a fine of up to 5 million patacas.
According to the statement, AMCM officials recently noted that there are individuals distributing posters that are promoting illegal encashments in Macau, using the Chinese terms “花唄套現” (encashments carried out through Ant Credit Pay), “信用卡無卡套現” (encashments made through a “card not present transaction”), “京東白條套現” (encashments through JD blank notes), “蘇寧任性付套現” (encashments made through Suning payments), and “各種網貸提現” (different types of encashments via online credit services).
These individuals also use the online application “WeChat” to solicit their “customers” to carry out encashments through bank cards and engage in private lending activities, the statement noted.
This undated handout photo from the Macau Monetary Authority (AMCM) shows a poster found advertising illicit encashments through various channels.
