Macau casinos have reportedly been given an ultimatum by Macau’s Monetary Authority to remove illegal China UnionPay mobile swipe card devices inside their premises or face a monumental crackdown.
The South China Moring Post has reported that the Macau Monetary Authority has set a July 1 deadline in an effort to prevent mass market gamblers from using these devices to obtain cash via refunds on purchases made at retail shops near the casino floor.
Currently, mainland tourists are allowed to bring a maximum of 20,000 yuan ($3,200) to Macau and can withdraw a further 10,000 yuan ($1,600) per day at ATM machines for every UnionPay card a visitor has at his or her disposal. But the practice of swapping cash for fake transactions has triggered alarm bells in Beijing.
State-owned UnionPay has already put in place rules to restrict the use of its cards in the gaming industry. But the Monetary Authority explained that the agency has the power “in accordance with any changes in and development of the market, [to] streamline or strengthen relevant risk management and on-going customers’ due diligence, with the objective of promoting healthy development of the sector.”
The crackdown has the blessing of Beijing as part of President Xi Jinping’s campaign of curbing corruption connected with the world’s gambling capital.
