Hong Kong | Authorities considering facial recognition at ATMs

The Hong Kong Monetary Authority (HKMA) released a statement yesterday saying that the city’s automated teller machines (ATMs) may need to adopt facial recognition technology, as proposed earlier this month by Macau authorities in the MSAR.

According to the South China Morning Post, HKMA chairman Norman Chan hinted that the authority is currently studying the implementation of the measure.

The idea of introducing facial recognition technology to ATMs in Macau was floated as a solution to wealthy individuals circumventing China’s currency controls by using more than one Union Pay card. The cards are typically registered under different identities, although one individual controls all accounts.

Now, the HKMA has stated that it may require Hong Kong banks to introduce the same technology, and has even suggested using fingerprint scanners as an additional security precaution.

Adopting the technology will likely require the replacement of some 3,250 ATM machines in Hong Kong, as reported by the SCMP.

In Macau, there is no stated deadline for rolling out the technology in the city, but it is understood that cash machines in casinos will be the highest priority.

The coordinated move, which comes only days after a meeting late last week between the monetary authorities of Macau and Hong Kong, is the latest proposed tactic in the fight against money laundering, financial crime and terrorist funding. It is also designed to aid Beijing’s objective of preventing capital flight from the mainland.