Hong Kong Customs detects case of non-registered precious metals and stones dealer carrying out specified transaction

Hong Kong Customs Arrests Director of Unregistered Jewellery Company Over HK$120,000 Transaction, Emphasizes Registration Compliance for Dealers in Precious Metals and Stones.

Hong Kong Customs yesterday (July 9) detected a case involving a local company that conducted a jewellery transaction with a total value exceeding HK$120,000 without being registered under the Dealers in Precious Metals and Stones Regulatory Regime. The sole director of the company was arrested.

The investigation is ongoing. The arrested person has 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, who claims to be a registrant, claims to be authorised to carry out, or carries out any cash or non-cash transaction(s) with a total value at or above HK$120,000 is liable, upon 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 HK$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

Hong Kong Customs seizes suspected illicit cigarettes worth about $1.88 million

Hong Kong Customs seized about 360 000 suspected illicit cigarettes on September 30, with an estimated market value of about $1.88 million and a duty potential of about $1.18 million, at the Man Kam To Control Point.

Customs officers on that day intercepted an incoming truck declared as carrying vegetables at the said control point. After inspection, the batch of suspected illicit cigarettes was found mix-loaded with vegetables inside 63 foam boxes on the truck.

A 62-year-old local male driver was arrested and the truck involved in the case was also detained.

An investigation is ongoing, and the arrested person has been released on bail.

Customs will continue to take stringent enforcement action against cross-boundary smuggling activities through risk assessment and intelligence analysis.

Customs stresses that smuggling is a serious offence. Under the Import and Export Ordinance (Cap. 60), any person found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and imprisonment for seven years.

Moreover, under the Dutiable Commodities Ordinance (Cap. 109), any person who deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.

Members of the public may report any suspected illicit cigarette activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account(crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Hong Kong Customs seizes suspected illicit cigarettes worth about $1.88 million Source: HKSAR Government Press Releases