Francis Tam denies the removal of POS from casinos

2014/6/26

From：Macau Daily Times

Secretary for Economy and Finance Francis Tam stated yesterday that the Macau Monetary Authority gave no instructions to remove all point of sale (POS) machines from jewelry and luxury stores located inside or outside casinos, contradicting to previous media reports. Nevertheless, those stores located at casinos will not be allowed to increase the number of POS machines they own, starting from July this year.
Speaking to journalists, Francis Tam said that the financial monitoring department in Macau has always required these industries to strengthen their means of monitoring card and cash transactions, especially when it involves a large sum.
However, the government will review its ban on increasing POS machines three to four months after its implementation. He also said that the government would not rule out full-scale action to compress card transactions within casinos.
The secretary also reminded industry members to report suspicious transactions. The government, he claimed, will also have to strengthen their supervision of certain high-risk financial activities.

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