A hooded suspect appears at a press conference in Macao. [Photo/IC]

A man and a woman were arrested on Tuesday in Macao for suspected money laundering, local media reported.

The woman, 39, is reportedly from East China's Jiangsu province and holds a work permit. The man, 33, is also from Jiangsu province and unemployed. The suspects were reported to police when they were witnessed withdrawing large sums of money form ATMs at a bank.

Macao police later found the pair with 110 debit cards issued by mainland banks and HK $463,500 ($59,793) in cash.

Video footage also showed the two, both surnamed Wu, withdrawing money at the same location on Sept 14. The suspects admitted withdrawing HK $400,000 at that time but said they lost all the money gambling.

Police officials said an investigation is still underway.