Exclusive: hong kong customs busts unregistered dealer in illegal precious metals trade
âHong Kong Customs yesterday (May 28) detected a case which involved a local company that conducted diamond transactions with total value of each transaction exceeding HK$120,000 without a registration under the Dealers in Precious Metals and Stones Regulatory Regime. Two persons suspected to be connected with the case were arrested.
An investigation is ongoing. The two persons have been released on bail pending further investigation.
According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effect on April 1, 2023. Any person who is seeking to carry on a business of dealing in precious metals and stones in Hong Kong and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with the Commissioner of Customs and Excise. Any dealer, other than a registrant, claims to be a registrant, claims to be authorised to carry out, or carries out any cash or non-cash transaction(s) with total a value at or above HK$120,000 is liable on conviction to a maximum fine of HK$100,000 and imprisonment for six months.
Hong Kong Customs reminds all dealers in precious metals and stones that the transitional period for registration under the Regime has ended. Any dealer who submits their applications for registration from January 1, 2024, onwards must successfully obtain the relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above $120,000.
For the forms, procedures and guidelines to submit applications for registration, please visit the website for Dealers in Precious Metals and Stones Registration System (www.drs.customs.gov.hk) or Hong Kong Customs' webpage (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html).
Members of the public may report any suspected transactions involving precious metals and stones with a total value at or above HK$120,000 conducted without the required registration to Customs' 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Source: AI-generated images
Employers, contractors and employees should be aware of electrical safety at work during rainstorms
As the rainstorm warning has been issued by the Hong Kong Observatory, the Labour Department (LD) reminds employers and contractors that they should adopt necessary work arrangements and take suitable safety measures to protect the safety of their employees when they are carrying out electrical work or handling electrical plant.
A spokesman for the LD said today (June 6) that employers and contractors should avoid assigning employees to carry out electrical work (such as electric arc welding work) or handle electrical plant at places affected by rainstorms, and should refer to the "Code of Practice in Times of Adverse Weather and 'Extreme Conditions'" and the "Guide on Safety at Work in times of Inclement Weather" issued by the LD.
Even if electrical work is carried out or electrical plant is handled at places not affected by a rainstorm, suitable safety measures must still be adopted to prevent an electric shock as the air would be more humid. Such measures include:
(i) Ensure that all live parts of an electrical installation are isolated from the power supply source and rendered dead, and the isolation from the power supply source must be maintained as long as electrical work is being carried out;
(ii) Before carrying out any electrical work or handling any electrical plant, cut off and lock out the power supply source, then test the circuit concerned to confirm that it is dead and display suitable warning notices, and issue a work permit thereafter;
(iii) Ensure that protective devices (such as suitable and adequate fuses and circuit breakers) for the electrical installations or electrical plant have been installed and maintained in good working order, and portable electric tools must be double-insulated or properly earthed;
(iv) Provide suitable personal protective equipment such as insulating gloves and insulating mats for employees; and
(v) If live electrical work is unavoidable, a comprehensive risk assessment should be conducted by a competent person and the appropriate safety precautions should be taken to remove or properly control the electrical hazards involved before such work can proceed.
In addition, employees should co-operate with the employer or contractor to follow the safety instructions and use the safety equipment provided.
The LD has published guidebooks and leaflets on electrical work safety. These safety publications are available free from divisional offices of the department or can be downloaded from its website (www.labour.gov.hk/eng/public/content2_8.htm).
Should there be any questions about occupational safety and health matters, please contact the Occupational Safety Officer of the LD at 2559 2297.
Source: AI-found images
