To combat the illegal flow of cash from Mainland China, the government of Macau has decided to implement new security technology at ATMs located near casinos of the gambling city. On Sunday, the government issued a report that stated new measures will be implemented in the future where China UnionPay card holders will have to scan identity cards as well as complete a facial recognition scan before being able to make a withdrawal from an ATM.
A specific time frame for the new technology was not announced by the government and in their statement on the matter, it was commented that no effort would be spared to implement anti-money laundering and anti-terrorism rules within Macau.
According to GGRasia, the Chief Executive of SJM Holdings Ltd, Ambrose So Shu Fai, spoke with media on Monday stating that the changes to ATMs near casinos is expected to have minimal impact on their casino earnings. In his remarks to the media, Mr. So stated that he is guessing the changes will have minimal impact and once the changes are in effect, they will be able to see if the ATM security features affects the mass market or VIP segment.
The new security features to be added are being called ‘know your customer’ or KYC technology. The changes will be installed via a program that will run in stages. Mr. So was asked as to when the casinos operated by SJM Holdings would see ATMs upgraded and he stated that he did not know but the firm would be following the guidelines required by the Monetary Authority of Macao in the matter.
According to Mr. So, he feels that those who hold several UnionPay cards could be affected but the experience of the firm shows that junkets who bet in their casinos are not multiple card holders. The changes to the ATM machines of Macau come at the same time as officials of the country are proposing changes to anti-money laundering laws, which should help to strengthen current regulations.