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Macau clamps down on use of UnionPay cards to dodge currency controls

Mimi Sabreena 3:01:00 PM Informasi

HONG KONG (June 7): Authorities in Macau, the world’s biggest gambling hub, have told financial institutions to tackle the illegal use of UnionPay cards to evade exchange controls, China’s latest move to clamp down on illicit capital outflows.

The announcement from Macau’s monetary authority late on Wednesday adds to a series of measures being implemented in the Chinese territory as it cracks down on such “illegal acts”.

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