Hong Kong Customs reminds non-local exhibitors in jewellery exhibitions about statutory requirement to submit cash transaction report under Dealers in Precious Metals and Stones Regulatory Regime
The Jewellery & Gem WORLD Hong Kong is being held at AsiaWorld-Expo from today (September 15) for five consecutive days. Hong Kong Customs reminds the exhibitors that according to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Dealers in Precious Metals and Stones Regulatory Regime (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 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 Hong Kong Customs and fulfil his/her anti-money laundering and counter-terrorist financing statutory obligations as appropriate.All dealers in precious metals and stones must successfully obtain a 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 non-Hong Kong dealers fulfilling the prescribed conditions (including those who come to Hong Kong to participate in exhibitions), although they are exempt from registration, they are required to submit to Hong Kong Customs a cash transaction report for any cash transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 carried out in Hong Kong within one day after the transaction, or before the dealer or the person acting on behalf of the dealer leaves Hong Kong, whichever is earlier.
Non-Hong Kong dealers can make an online submission of a cash transaction report via the Regime's webpage at www.drs.customs.gov.hk by accessing the Dealers in Precious Metals and Stones Registration System. Details of the submission procedures are set out in the Annex.
Non-Hong Kong dealers can also download the related form at www.drs.customs.gov.hk/download/drsform/CED418_Form%208_Cash%20transaction%20report.pdf and then submit the completed report by fax at (852) 3568 4395 or in person at the office of Dealers in Precious Metals and Stones Supervision Bureau of Hong Kong Customs during office hours (Address: Unit 3501, 35/F, Skyline Tower, 39 Wang Kwong Road, Kowloon Bay, Kowloon).
Dealers can visit the website (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html) for more information about the Regime.
Source: AI-found images
Hong Kong Customs detects two drug trafficking cases involving passengers at airport
Hong Kong Customs today (May 26) detected two drug trafficking cases involving passengers at Hong Kong International Airport and seized about 11 kilograms of suspected cannabis buds and 18kg of suspected ketamine, with a total estimated market value of about $8.85 million. Two men were arrested.
The first case involved a 62-year-old male passenger arriving in Hong Kong from Bangkok, Thailand, today. During customs clearance, Customs officers found about 11kg of suspected cannabis buds, with an estimated market of about $2 million, inside his check-in baggage. The man was subsequently arrested.
The second case involved a 58-year-old male passenger arriving in Hong Kong from Paris, France, today. During customs clearance, Customs officers found about 18kg of suspected ketamine, with an estimated market of about $6.85 million, inside his check-in baggage. The man was subsequently arrested.
The arrested person in the first case has been charged with one count of trafficking in a dangerous drug and the case will be brought up at the West Kowloon Magistrates' Courts tomorrow (May 27). For the second case, an investigation is ongoing.
Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people.
Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
Members of the public may report any suspected drug trafficking 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 detects two drug trafficking cases involving passengers at airport Source: HKSAR Government Press Releases
Hong Kong Customs detects two drug trafficking cases involving passengers at airport Source: HKSAR Government Press Releases
Hong Kong Customs detects two drug trafficking cases involving passengers at airport Source: HKSAR Government Press Releases
Hong Kong Customs detects two drug trafficking cases involving passengers at airport Source: HKSAR Government Press Releases
