- Britcham recently invited risk management expert Steve Vickers to host a specialized event as part of its “Business Lunch” series.
- The event provided attendees with an opportunity to engage with professionals and gain insights into effective risk management strategies.
The British Chamber of Commerce in Macao (Britcham) recently invited risk management expert Steve Vickers to host a specialized event as part of its “Business Lunch” series. The event provided attendees with an opportunity to engage with professionals and gain insights into effective risk management strategies, focusing on risk assessment and mitigation in the Asia-Pacific region.
In his speech, Vickers praised the effectiveness of the Macau authorities’ recent crackdown on junket activities but warned that illicit online gambling is emerging as a new risk. He highlighted that junkets were historically linked to organized crime and often siphoned funds outside of Macau’s tax system.
While the arrests of major junket figures, such as those from Suncity and Tak Chun, have helped mitigate this issue, Vickers emphasized that new risks, particularly from online gambling, continue to emerge.
Vickers also mentioned that cross-border financial operations between Macau and countries like Cambodia, Vietnam and the Philippines pose additional risks.
Moreover, he noted that the Asia-Pacific region would face more challenges in 2025, particularly amidst the growing US-China competition, which is expected to heighten regional instability and challenge the global security system. He further pointed out that tensions over Taiwan, disputes in the South China Sea and the situation on the Korean Peninsula will contribute to increased regional uncertainty.
Britcham Chairman Keith Buckley says: “Britcham last held an event with Steve Vickers pre-Covid. It was well received and given the current turmoil on the world scene we decided to hold the lunch after knowing the result of the US presidential elections as the appointment of Donald Trump is likely to have unpredictable implications. We will be repeating the event in about a year’s time.”