Hong Kong seeks to learn from the experience of nearby Macau, a resort town in Southern China known for its casinos and luxury hotels. Macau has seen the number of reports of suspicious financial transactions skyrocket recently, and last month announced it would start facial recognition scanning of bankcard customers using ATMs.
Hong Kong is now studying the use of biometric authentication of its ATM users. The Hong Kong Monetary Authority is interested in fingerprints or facial recognition scanning, but has concerns about reliability. Some question whether the new biometric technology is mature and safe enough. Authentication may end up requiring a pin or password in combination with biometric ID for multilayer security.
Last year the number of police reports of suspicious financial transactions more than tripled in Macau, while the number of convictions decreased by over a third, leaving investigators struggling to cope. The total cash withdrawals at ATM machines in Macau topped out over HK $10 billion in a month (about 1.3 million USD), creating concerns over money laundering and capital flight.
The need for updated technology and security for financial transactions in Hong Kong is clear. Hong Kong would like to prevent displaced financial fraud coming to its shores. Hong Kong is evaluating options, and may soon move ahead with biometric security. Hong Kong has previously announced the introduction of facial recognition scanning at airport departure gates.
Hong Kong considering using facial or fingerprint recognition in ATMs
Justin Lee, May 31, 2017, for BiommetricUpdate.com
Hong Kong Monetary Authority mulls using facial recognition and fingerprint technology in ATMs
Phila Siu, May 29, 2917, for South China Morning Post, Banking and Finance
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