Macau Jewellery Store Busted for Illegal Money Exchange
In Macau’s vibrant Cotai district, a jewellery and watch store has been exposed as a covert hub for illegal financial activity. The Macau Judiciary Police uncovered that the seemingly legitimate shop was running an unauthorized money exchange operation, processing roughly HK$60 million ($7.7 million) in illicit transactions. The raid, which took place earlier this week, led to the arrest of two female employees and the seizure of substantial criminal proceeds, marking a major step in Macau’s intensified crackdown on gaming-related financial crimes.
Disguised as Luxury Retail
The store blended seamlessly among luxury boutiques in the casino district, but beneath its displays of watches and ornaments, it had been facilitating illegal currency exchanges. The targeted operation, launched on December 29, followed intelligence indicating that the shop was conducting unlicensed transactions, an activity criminalized under Macau’s tightened gambling laws in 2024.
Police surveillance captured a key transaction: a gambler from mainland China scanned a QR code provided by a shop employee and received HK$5,000 ($640) in cash within minutes, entirely outside regulated banking channels. The customer immediately used the cash to purchase casino chips, at which point authorities intervened. A subsequent search of the premises uncovered roughly HK$500,000 ($64,000) in cash and a mobile phone believed to coordinate the digital transfers.
A Long-Standing Scheme
Investigations suggest the operation had been running since 2019, surviving the pandemic and continuing even after stricter regulations were imposed. During its course, the scheme reportedly generated about HK$1 million ($128,000) in illegal profits.
The two arrested employees, a Macau resident and a mainland Chinese national, admitted their involvement, stating they carried out transactions at the shop owner’s direction. They were paid between HK$2,000 and HK$5,000 per month to remain complicit in the operation, which moved tens of millions in shadow transactions.
Ongoing Manhunt
While staff have been detained and the physical location shut down, the owner of the operation remains at large. The Judiciary Police continue efforts to track down the mastermind behind the scheme. The arrested employees have been transferred to the Public Prosecutions Office, facing charges for operating an illegal money exchange connected to gambling activities.
A Message to the Underground Economy
The case demonstrates that authorities are intensifying scrutiny on businesses that facilitate illicit operations, not just street-level criminals. The dismantling of this front within a major casino hub underscores Macau’s commitment to curbing the underground economy, sending a clear signal that illegal activity will not evade detection.
