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Hong Kong on alert as ATM withdrawals surge

Cash withdrawals at Hong Kong ATMs have surged, prompting scrutiny from monetary authorities, the banking industry and police amid media reports that mainland Chinese are withdrawing hundreds of thousands of dollars using up to 50 cards at a time. A move that took effect on Jan. 1 caps overseas withdrawals using domestic Chinese bank cards. The gambling hub of Macau last year introduced facial recognition technology at ATMs to target illicit outflows from mainland China, a move that Hong Kong's central bank told Reuters could increase cash withdrawals in the financial centre.
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