The Monetary Authority of Macau (AMCM) is suspending cash withdrawals for all ATMs without “Know-Your-Customer (KYC)” technology starting July 4.
The announcement was made on the Government Information Bureau (GCS) on Monday by the AMCM.
While Macau residents and holders of cards issued by banks of other jurisdictions will not be affected, holders of Mainland China UnionPay cards will only be able to carry out cash withdrawals through ATMs with “KYC ATM” logos, said the authority.
Earlier this year, the AMCM had requested banks to upgrade Union Pay terminals in and near casinos to have the ability to scan identification and conduct facial recognition.
The moves are said to help the city tackle money laundering.
As of July 2, there were 834 ATMs with KYC technology, noted the AMCM.
It also noted that the KYC technology for identity verification will be extended to other Mainland bank cards “at a later stage”.