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Money service operator convicted of operating without licence

15 May 2019


A man was fined $8,000 today (May 15) at Tuen Mun Magistrates' Courts for operating a money service without a valid licence.

Officers of the Customs and Excise Department (C&ED) on patrol earlier discovered a gold and jewellery shop inside a shopping arcade in Tin Shui Wai suspected of operating 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 operation to the Customs' 24-hour hotline 2545 6182 or its crime-reporting email account (crimereport@customs.gov.hk).

 

Ends/Wednesday, May 15, 2019

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