Macau government launches facial recognition and identification card checks for China UnionPay ATM withdrawals to prevent Chinese money laundering

Briefing

May 12, 2017

Briefing	Required Screening System – Macau government requiring deployment of high-tech facial recognition systems and identity checks at ATMs, initially around casinos, to verify cash withdrawals and combat money laundering Anti-Money Laundering Efforts – Follows various gambling bans last year, aiming to boost anti-money laundering rules in only legal gambling territory in China, where large amounts of unauthorized China UnionPay transactions are made Expected Outcome – Expects no significant change in demand, as well as on player psychology, but remind many investors on vulnerability of sector to regulatory issues
Accelerator	Artificial Intelligence
Market Disruption	Privacy and Security
Sector	Financial Services
Organization	UnionPay
Source	Fraser, N., "Macau to launch facial recognition and identity card checks for ATMs after withdrawals surpass HK$10 billion a month", South China Morning Post, http://www.scmp.com/; Wei, D., "Macau introduces ATM facial recognition to deter Chinese money laundering", Bloomberg, https://www.bloomberg.com/; AcceleratingBiz analysis
Original Publication Date	May 8, 2017

Related Briefings

Bioinformatics startups Benevolent AI and Insilico Medicine using artificial intelligence to discover and accelerate treatments for corona virus

February 12, 2020

Ohio-based 80 Acres Farms grows organic, pesticide-free produce using indoor farming, automation and controlled environment methods

February 11, 2020

Canadian company Cognitive Systems introduced WiFi Motion that senses movement by detecting and interpreting changes in Wi-Fi signals at Consumer Electronics Show 2020

January 20, 2020

U.K. Ministry of Defence launched competition for artificial intelligence (AI) systems designed for warships, part of wider Intelligent Ship project

January 16, 2020

Artificial intelligence company Binah.ai debuted health monitoring app that estimates patient’s vital signs from video at Consumer Electronics Show (CES) 2020

January 8, 2020

Go to page

Related Proof Points

Percentage of Work Hours Performed by Machines

March 22, 2019

CEOs Agreeing that Artificial Intelligence Will Have Larger Impact than Internet Revolution

March 21, 2019

HR Leaders’ Expectation of When AI and Automation Will Be Sufficiently Advanced to Impact Workforce Planning in Their Organizations

March 15, 2019

Average Salary For Robotic Process Automation (RPA) Jobs In United States

March 14, 2019

AI Adoption of Companies by Region

March 11, 2019

Go to page

Cookie	Duration	Description
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Leave a comment