Hong Kong Customs combats unlicensed money service business


Hong Kong (HKSAR) -      Hong Kong Customs today (October 4) is investigating a suspected case of operating money service without a licence, in contravention of the Anti-money Laundering and Counter-Terrorist Financing Ordinance (AMLO).
 
     Acting on information, officers of Customs and Excise Department (C&ED) raided a grocery shop in Tai Kok Tsui today and found a man and his wife offer remittance services to foreign domestic helpers without a licence from the Commissioner of Customs and Excise. 
 
     Investigation is ongoing.
 
     Under the AMLO, a person who wishes to operate a remittance service 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 its crime-reporting email account (crimereport@customs.gov.hk).



Published on: 2018-10-04

Limited copyright is granted for you to use and/or republish any story on this site for any legitimate media purpose as long as you reference 7thSpace and any source mentioned in the story above. Please make sure to read our disclaimer prior to contacting 7thSpace Interactive. To contact our editors, visit our online helpdesk. If you wish submit your own press release, click here.

Discussions




Custom Search



Username
Password










© 2018 7thSpace Interactive
All Rights Reserved - About | Disclaimer | Helpdesk