To combat fraud, the Ministry of Finance has required eight state-run banks to install artificial intelligence (AI)-powered facial recognition systems in automated teller machines (ATMs), the Liberty Times (sister paper of the Taipei Times) reported yesterday.
If people are wearing helmets, face masks, dark glasses or other headwear, ATMs would display a warning and require them to show their faces before operating the machines, the report said.
If people transfer money while talking on the phone, ATMs would urge them to stay alert to potential fraud, the report said.
Photo: Hung Jui-chin, Taipei Times
The eight banks are Bank of Taiwan Co (臺灣銀行), Land Bank of Taiwan Co (土地銀行), Hua Nan Commercial Bank Ltd (華南銀行), Taiwan Cooperative Bank Ltd (合作金庫銀行), First Commercial Bank Ltd (第一銀行), Chang Hwa Commercial Bank Ltd (彰化銀行), Mega International Commercial Bank Co (兆豐銀行) and Taiwan Business Bank Ltd (臺灣企銀).
About 1 to 2 percent of the more than 5,000 ATMs operated by the eight state-run banks have facial recognition systems. The ministry wants to lift the ratio to 20 percent by the end of this year, the report said.
The move comes as the ministry and the Financial Supervisory Commission have weighed using facial recognition systems in ATMs to combat fraud since last year, as fraudsters often use the machines to get untraceable cash, with money mules wearing helmets or masks to evade detection.
From July last year to January this year, more than 117,000 ATM fraud hotspots across the country were identified by investigators, according to statistics compiled by the National Police Agency.
Some privately run banks including CTBC Bank Co (中國信託銀行) and Taishin International Bank Co (台新銀行) are introducing anti-fraud ATMs, as the commission weighs whether more financial institutions should use the AI systems to deny access to fraudsters.
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