Macao is an autonomous region of China known for its casinos and luxury hotels and is the only Chinese territory where gambling is authorised. Indeed, Macao registers the world’s largest gambling revenue since 2006, far ahead of Las Vegas. As a consequence, the resort city is also favoured by tax evaders and criminals for money-laundering activities.
According to a 2014 investigation conducted by Reuters, numerous Chinese use tricks to circumvent the daily 20,000 yuan withdrawal limit and spend more Money in physical form such as banknotes and coins. in Macau’s region than authorised. Fraudsters notably open several UnionPay accounts at a time and withdraw From the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... from each of these. The money is either used to gamble, make fake purchases in pawn shops or sent abroad.
Macao decided to crack down on these practices by implementing facial recognition in UnionPay ATMs. The deployment schedule yet to be announced, but the government already stated that the first effort will focus on ATMs installed inside casinos.
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