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The Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, Cap. 615 (AMLO) (Opens a new window) came into operation on 1 April 2012. Under the AMLO, a person who wishes to operate a remittance and / or money changing service (i.e. money service as defined under the AMLO) is required to apply for a licence (Opens a new window) from the Commissioner of Customs & Excise (CCE). Operating a money service without obtaining a money service operator licence from the CCE is an offence and liable to a fine of $100,000 and imprisonment for six months. Under the AMLO, the CCE is the relevant authority to regulate Money Service Operators (MSOs) (i.e. Remittance Agents and Money Changers) and supervise licensed MSOs' compliance with the customer due diligence and record-keeping obligations and other licensing requirements, as well as combating unlicensed operation of money service.

The CCE has authorized officers in this department to process MSO licence applications, conduct compliance inspection and investigation on MSOs in connection with the requirements specified in the AMLO.

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Supervision of Money Service Operators