{"id":49886,"date":"2017-05-08T13:00:22","date_gmt":"2017-05-08T20:00:22","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=49886"},"modified":"2017-05-08T12:24:12","modified_gmt":"2017-05-08T19:24:12","slug":"macau-atms-to-employ-facial-recognition-technology","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/","title":{"rendered":"Macau ATMs to Employ Facial Recognition Technology"},"content":{"rendered":"

ATM machines in Macau will soon employ face recognition software, the latest move in the clamp down on money laundering and to prevent capital flight from the Chinese mainland to the semi-autonomous gambling hub.<\/p>\n

\"Zhang
It\u2019s unlikely to be a coincidence that the announcement came just hours before the visit of China state leader Zhang Dejiang who has come to inspect the reinvented and reborn Macau gambling region. (Image: South China Morning Post)<\/figcaption><\/figure>\n

The Macau<\/a> government announced Monday that users of UnionPay, China\u2019s only domestic bankcard, will soon be required to insert their mainland identity cards into ATMs and have identities verified by facial recognition software before they can withdraw cash.<\/p>\n

The vast majority of visitors to Macau are from the Chinese mainland, accounting for some 20 million of the enclave\u2019s 30 million visitors last year.<\/p>\n

But Beijing is concerned that the recent slowdown of the Chinese economy and weakening of the yuan is prompting people to shift capital offshore and into foreign currencies, putting further pressure on the yuan.<\/p>\n

Macau, with its gambling economy, is seen as a hub for money laundering.<\/p>\n

Look Busy, the Boss is Coming<\/b><\/h2>\n

It\u2019s likely no coincidence that the government\u2019s announcement came just hours before the arrival of state leader Zhang Dejiang, China\u2019s third most powerful man.<\/p>\n

\n

Macau was hit hard by China\u2019s anti-graft crackdown on 2014, which turned the screws on the junket industry and spooked VIP visitors from the mainland into staying away.<\/strong><\/p>\n<\/blockquote>\n

But the enclave is in the midst of recovery and the local government wants to keep it that way. It\u2019s anxious to show Beijing that it\u2019s taking economic concerns seriously.<\/p>\n

The gambling hub has reinvented itself as a mass market destination, and it\u2019s beginning to pay off. And while Beijing is largely supportive of the new focus, Macau is only too aware of the degree to which its economic health can hinge on regulatory whims of the Chinese government. \u00a0 \u00a0<\/span><\/p>\n

Recovery Tied to Policy Whims<\/b><\/h2>\n

ATM withdrawals by mainlanders in Macau are restricted to around $1,450. Gamblers used to circumvent this restrictions by using their cards to buy expensive goods from pawnshops and jewelry stores based at the casinos, which were then immediately traded for local currency, a practice that has been increasingly suppressed.<\/p>\n

In December last year, local media reports that Beijing<\/a> was about to <\/span>halve the withdrawal cap on ATMs caused casino stock to plunge.<\/p>\n

But it rallied several days later on the news that initial reports were inaccurate and that daily withdrawal limits would remain the same. Instead each individual withdrawal would be halved.<\/p>\n

As Vitaly Umansky, a Hong Kong-based analyst at Bernstein, told the Financial Times, the new ATM measures may remind investors that \u201cMacau risks are largely tied to policy and the power of the government to limit growth has not been diminished.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

ATM machines in Macau will soon employ face recognition software, the latest move in the clamp down on money laundering and to prevent capital flight from the Chinese mainland to the semi-autonomous gambling hub. The Macau government announced Monday that users of UnionPay, China\u2019s only domestic bankcard, will soon be required to insert their mainland […]<\/p>\n","protected":false},"author":42,"featured_media":49904,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,60],"tags":[],"acf":[],"yoast_head":"\nMacau ATMs to Employ Facial Recognition Technology<\/title>\n<meta name=\"description\" content=\"Macau ATMs to undergo a facial recognition face-lift in the latest move to fight capital flight and money laundering with new technology.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau ATMs to Employ Facial Recognition Technology\" \/>\n<meta property=\"og:description\" content=\"Macau ATMs to undergo a facial recognition face-lift in the latest move to fight capital flight and money laundering with new technology.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-08T20:00:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-05-08T19:24:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/9cbbca96-18fa-11e6-bd42-dc82dcee8964_1280x720.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"980\" \/>\n\t<meta property=\"og:image:height\" content=\"551\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/\",\"name\":\"Macau ATMs to Employ Facial Recognition Technology\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/9cbbca96-18fa-11e6-bd42-dc82dcee8964_1280x720.jpg\",\"datePublished\":\"2017-05-08T20:00:22+00:00\",\"dateModified\":\"2017-05-08T19:24:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Macau ATMs to undergo a facial recognition face-lift in the latest move to fight capital flight and money laundering with new technology.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-atms-to-employ-facial-recognition-technology\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/9cbbca96-18fa-11e6-bd42-dc82dcee8964_1280x720.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/9cbbca96-18fa-11e6-bd42-dc82dcee8964_1280x720.jpg\",\"width\":980,\"height\":551,\"caption\":\"It\u2019s unlikely to be a coincidence that the announcement came just hours before the visit of China state leader Zhang Dejiang who has come to inspect the new reinvented and reborn Macau. 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