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Customs Announcement

Press Release

Hong Kong Customs combats unlicensed money service operation

25 Apr 2018

Hong Kong Customs yesterday (April 24) conducted an operation to combat unlicensed money service and discovered a gold and jewellery shop suspected of operating a money service without a licence, in contravention of the Anti-money Laundering and Counter-Terrorist Financing Ordinance (AMLO).

Acting on information, officers of the Customs and Excise Department (C&ED) disguised as customers and conducted a test-exchange operation at a gold and jewellery shop inside a shopping arcade in Tin Shui Wai yesterday and found that the shop was operating a money service business without a licence from the Commissioner of Customs and Excise in addition to its jewellery retailing business.

Investigation is ongoing.

Under the AMLO, a person who wishes to operate a remittance and/or money changing service is required to apply for a licence from the C&ED. Any person who operates a money service without a valid licence commits an offence. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for six months.

Members of the public may report any suspected unlicensed money service operation to the Customs 24-hour hotline 2545 6182, or dedicated crime-reporting email account (crimereport@customs.gov.hk).

Ends/Wednesday, April 25, 2018

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