Macao strengthens monitoring of money withdrawal using mainland-issued bank cards - Website of MSAR Government Information Bureau


 Macao strengthens monitoring of money withdrawal using mainland-issued bank cards 

2017-05-08 18:17:00

Source : Government Information Bureau

The Government is to introduce new technology in automated teller machines (ATMs) across the city, to strengthen monitoring regarding the use of mainland-issued bank cards in Macao.

The Government will install – in phases – “know your customer” (KYC) technology in ATMs in Macao. When using ATMs in Macao with such KYC features, holders of UnionPay cards issued by mainland banks will be required to scan their mainland identity card and undergo a facial recognition check.

Holders of UnionPay cards issued in Macao or other places outside the mainland are not affected by the measure.

Macao’s financial authorities will install in phases KYC technology in all ATMs across the city, including those in or near casinos.

The measure is to strengthen supervision of the use of mainland-issued bank cards in the withdrawal of money in Macao. It takes account of the increase in usage and transaction volume in Macao concerning withdrawals via mainland-issued bank cards.

The Government attaches great importance to, and has expended great effort in, optimising Macao’s anti-money laundering measures and its standards for countering the financing of terrorism.

The Government has been closely cooperating with the Asia/Pacific Group on Money Laundering (APG), and working in line with the anti-money laundering standards set out by the Financial Action Task Force, an intergovernmental body that sets standards and promotes regulatory and operational measures for combatting money laundering.

The new measure regarding ATMs will help Macao further fulfil – as an APG member – its responsibilities in combatting money laundering. In particular, the Government’s effort further protects the legitimate rights of Macao’s financial institutions and of holders of mainland-issued bank cards.

* Chinese and Portuguese are the official languages of Macao, the English version of the web site is the translation from the Chinese originals and is provided for reference only.

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