Hong Kong Customs Arrests Company Director for Unregistered Diamond Transactions Over HK$120,000.

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

Hong Kong Customs yesterday (September 29) detected a case involving a local company that conducted diamond transactions valued at over HK$120,000, without registration under the Dealers in Precious Metals and Stones Regulatory Regime. The company director was arrested.

The investigation is ongoing. The arrested person has been released on bail.

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 to a maximum fine of HK$100,000 and imprisonment for six months upon conviction.

Customs reminds dealers in precious metals and stones that they must 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 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 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Source: AI-found images

Fatal traffic accident in Kwai Chung

Police are investigating a fatal traffic accident in Kwai Chung today (May 8) in which a man died.

Police received a report at 4.33pm that a light goods vehicle (LGV) driven by a 38-year-old man reportedly knocked down a 73-year-old man when it reversed inside an industrial building on Lam Tin Street.

Sustaining serious head injuries, the 73-year-old man was certified dead at scene.

The LGV driver was arrested for dangerous driving causing death and is being detained for enquiries.

Investigation by the Special Investigation Team of Traffic, New Territories South is under way.

Anyone who witnessed the accident or has any information to offer is urged to contact the investigating officers on 3661 1346.

Source: AI-found images