Skip to content

Open Menu
Customs Announcement

Press Release

Money service operator convicted of operating without licence

20 May 2020

An information technology (IT) company and its director were convicted of operating a money service without a valid licence. The IT company was fined $25,000 earlier and the director was sentenced to two months imprisonment suspended for 12 months and fined $25,000 today (May 20) at Kowloon City Magistrates' Courts.

Acting on information, officers of the Customs and Excise Department (C&ED) earlier conducted an investigation and discovered an IT company located in Wan Chai and its director had operated a money service without a licence.

Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, 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 operations to Customs' 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk).

Ends/Wednesday, May 20, 2020

Top