MACAU May 16 Macau authorities have urged banks
to restrict the use of China's state-backed bank card at some
luxury stores in casinos in the world's largest gambling hub,
according to a banking source with knowledge of the situation.
The crackdown follows a Reuters investigative report in
March that highlighted the illegal use of UnionPay cards to
obtain cash through fake purchases of goods in Macau, to evade
China's strict currency-export controls.
The person, who declined to be identified given the
sensitive nature of the issue, attended a meeting organised by
the Monetary Authority of Macau last Friday during which it
stressed the need to tighten measures to curb a flood of illicit
money flows and laid out its recommendations.
(Reporting by James Pomfret and Farah Master; Editing by Anne