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ATM withdrawals surge put Hong Kong monetary authorities on alert

The gambling hub of Macau last year introduced facial recognition technology at ATMs to target illicit outflows from mainland China

Reuters  |  Hong Kong 

Cash withdrawals at Hong Kong ATMs have surged, prompting scrutiny from monetary authorities, the banking industry and police amid media reports that mainland Chinese are withdrawing hundreds of thousands of dollars using up to 50 cards at a time. China has battled to curb capital outflows for years. A move that took effect on January 1 caps overseas withdrawals using domestic Chinese bank cards. The gambling hub of Macau last year introduced facial recognition technology at ATMs to target illicit outflows from mainland China, a move that Hong Kong's central bank told Reuters ...

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First Published: Thu, February 01 2018. 18:08 IST
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