Hong Kong Denies ATM Reforms Imminent

Hong Kong’s financial regulator has denied suggestions it will introduce new rules requiring cash machine operators to carry out face recognition checks on consumers.

Local reports had suggested that the Hong Kong Monetary Authority (HKMA) was set to toughen know your customer (KYC) controls on cash withdrawals, part of wider attempts to tighten controls on the flow of cash in and out of China.

The authority admitted it has examined the feasibility of using biometric authentication to bolster transaction security, but ruled out suggestions new ATM rules would be imposed.

“The HKMA endeavours to enhance the security level of banking systems,” a spokesperson told PaymentsCompliance.

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