56
56 Gaming
Doing the laundry A
Chinese central bank’s internal report points nger at casinos BY MARTIN JOHN WILLIAMS*
three-year-old internal report by the People’s Bank of China on the theft of massive sums of pub-
lic money by eeing Chinese of cials and businesspeople, refers to casinos as sites for money laundering and gam- bling of public funds and accuses un- named gambling companies of assisting escapees in their crimes. A condensed version of
leased last month, possibly by mistake, after winning an award from the China Society for Finance and Banking. The head of the society, Zhou Xiao-
chuan, is also governor of the People’s Bank of China. The report has since been removed
the June
2008 report by the central bank’s An- ti-Money Laundering Monitoring and Analysis Centre entitled “Research on Channels for Assets Movement Over- seas by Corrupt Elements and Related Monitoring Methods” and marked “in- ternal use, retain with care” was re-
JULY 2011
from of cial websites, but it remains available online at various locations. Its contents provoked an angry re-
sponse in Chinese cyberspace, while West- ern media outlets also made headlines out of the large number of of cials allegedly involved and the hundreds of billions of renminbi estimated to have been lost. Those gures - between 16,000 and 18,000 of cials missing and RMB800
billion (MOP990 billion) lost since the mid-1990s - were dramatic enough, though most media outlets failed to state that the report sourced the estimates from a study by the Chinese Academy of Social Sciences. The report champions the need for
enhanced monitoring capabilities, com- munication and intelligence-sharing be- tween the bank’s special investigators, customs of cials, prosecutors and po- lice, as well as with nancial investiga- tion units in other countries. But the report, which was complet-
ed during a crackdown on Macau visas for mainland visitors, makes no direct reference to casinos or gambling in its
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