With fraud cases on the rise, Taiwan’s Financial Supervisory Commission has begun a pilot program installing camera systems that prevent obscured faces from accessing ATMs.
Fraud cases of illegal ATM use have been increasing. To combat this rising trend, the Financial Supervisory Commission (FSC) is testing a program that uses facial recognition systems to allow or deny entry to ATM vestibules.
Only those with their faces uncovered are allowed access. If any part of the face is obscured, a security alert sounds, and the person will be refused entry.
Currently, three state-owned and two public banks are leading the pilot program: CTBC Bank, Cathay United Bank, E.Sun Bank, Mega International Commercial Bank, and First Bank.
The public seems to support the new system, saying that it does more than surveillance cameras and that removing masks or other face coverings should be manageable.
According to National Police Agency statistics, more than 500 fraud cases are handled on any given day, averaging financial losses of about NT$180 million (US$5.7 million). Investigations show that suspects withdrawing money from ATMs often wear masks or helmets, which prevents their identification.
The FSC stated that the pilot program will end after June this year, and the collected data will be evaluated in July. Whether the system will be put to use in the future will be decided after the review, though, with fraud on the rise, public interest rates in higher security measures are spiking.