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June 16, 2014updated 21 Jan 2022 12:49pm

Illegal transactions using UnionPay transfers hit €16.6m

Illegal transactions using portable UnionPay terminals in Macau have touched to MOP180m (€16.6m), police authorities have told news agency Lusa.

By Verdict Staff

Illegal transactions using portable UnionPay terminals in Macau have touched to MOP180m (€16.6m), police authorities have told news agency Lusa.

Police authorities indicated that 41 suspects have been identified.

The transactions detected between January and mid-May are illegal because they’re made in Macau through UnionPay terminals from China or supplied by third parties, which prevents UnionPay getting the percentage they are entitled to as the operations are registered as outside Macau, macaubusinessdaily.com reported quoting Lusa report.

It is also believed that the transaction would have been provided by third parties, which forbids UnionPay from getting the percentage they are permitted, as the operations are registered outside Macau.

“According to the agreement between International UnionPay, the banks and stores in Hong Kong and Macau, traders must pay a percentage (maximum 1.4%) of the amount of the transaction in fees to the card-issuing bank, buyer and International UnionPay bank (UnionPay receives 0.2% of this figure), the authorities explained in a written response sent to Lusa.

International UnionPay could not receive the fees MOP 360,000 (€33,211), due to illegal transactions, according to the publication. The official added that these irregularities come under the crime of computer fraud.

“Given that this crime is considered semi-public, the PJ will closely watch with International UnionPay in order to have better knowledge of the situation of these irregularities,” the authorities added.

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