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HK authorities on alert as ATM withdrawals surge

Reports say mainland Chinese are withdrawing hundreds of thousands of dollars using up to 50 cards at a time

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Banks such as Standard Chartered and HSBC have large Hong Kong ATM networks. According to the Hong Kong Monetary Authority, monthly cash withdrawals using mainland bank cards ranged between HK$2b and HK$6b in 2017.

Hong Kong

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.

For years, China has

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