Woman convicted of operating money service online without licence

1 Jun 2022

‚ÄčA woman was fined $20,000 today (June 1) at Eastern Magistrates' Courts after being convicted of operating a money service without a valid licence.

In August last year, Customs officers initiated an investigation against a woman who was suspected of operating remittance business without a licence via a social media platform. After in-depth investigation, Customs officers discovered that the woman used her own bank account to operate the remittance business.

Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, a person who operates a remittance and/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 $100,000 and imprisonment for six months.

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/Wednesday, June 1, 2022

Previous Page