Woman convicted of operating money service online without licence

28 Apr 2023

‚ÄčA woman was fined $40,000 today (April 28) at the Kowloon City Magistrates' Courts after being convicted of operating a money service without a valid licence.

In June 2022, Customs officers initiated an investigation against a woman suspected of operating a remittance business without a licence via a social media platform. After an in-depth investigation, Customs officers discovered that the woman used her personal bank account to operate the remittance business.

Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, a person who wishes to operate a remittance or money changing service needs to first obtain a licence from the Customs and Excise Department. The maximum penalty for such operators without a valid licence upon conviction is a fine of $1 million and imprisonment for two years.

Customs reminds consumers to procure services from licensed money service operators. A register of licensees is accessible from the website of Customs' Money Service Operators Licensing System at eservices.customs.gov.hk/MSOS/wsrh/001s1?request_locale=en.

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

Ends/Friday, April 28, 2023

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