Police in Macau bust underground banking gang that modified mobile point-of-sale terminals to make transactions appear as if happening on Chinese mainland.
Several major Chinese online payment platforms, including Alipay and UnionPay, deny any involvement with Casino Pyongyang in North Korea.
The worst is finally over Macau’s gaming industry as the clampdown against the source of cross-border case for gamblers begins to wind down.
The ghost of UnionPay crackdown has sent investors scurrying away from Macau casino index.
Macau casinos fear a new Chinese crackdown on capital outflow after banks withdraw UnionPay point-of-sale terminals from casino pawnshops.
The restrictions on ATM withdrawals in Macau have yet to negatively affect the special administrative region’s casino industry, according to Union Gaming.
Authorities in Macau have banned automated teller machine (ATM) operators from offering cash withdrawal services to China UnionPay.
Macau's Financial Intelligence Office reports 28.4% year-on-year rise in the number of suspicious transaction reports filed in 2016.
Macau (ATMs) will soon be a little more intrusive as the special administrative region seeks to tighten its restrictions on cash flows out of mainland China
Authorities are reporting that the number of retail transactions using unregistered UnionPay POS terminals in the state has more than quadrupled in 2016.