Hong Kong Customs Investigates Unregistered Gold Jewelry Cash Transaction Over HK$120,000

Hong Kong Customs detects case involving precious metals and stones dealer carrying out specified cash transaction without Category B registration

Hong Kong Customs yesterday (May 20) detected a case involving a local company that conducted a cash transaction of gold jewellery valued at over HK$120,000, while not being a Category B registrant under the Dealers in Precious Metals and Stones Regulatory Regime. An investigation is ongoing.

According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), unless exempted, 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.

In particular, no person other than a Category B registrant may carry out a cash transaction with a total value at or above HK$120,000 in the course of business of dealing in precious metals and stones. Any dealer who is not a Category B registrant but who claims to be a Category B registrant, claims to be authorised to carry out, or carries out any cash transaction(s) with a total value at or above HK$120,000, commits an offence and is liable on conviction to a maximum fine of HK$100,000 and imprisonment for six months.

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).

Hong Kong Customs, Photo source: reference image

Hong Kong Customs detects dangerous drugs case and seizes suspected drugs worth about $5.4 million

Hong Kong Customs detected a dangerous drugs case yesterday (July 21) and seized a total of about 28.6 kilograms of suspected cannabis buds, about 1 gram of suspected crack cocaine, and about 3g of suspected methamphetamine with an estimated market value of about $5.4 million. Two persons suspected to be connected with the case were arrested.

Hong Kong Customs and Mainland departments on narcotics control and anti-smuggling carried out an intelligence exchange and intercepted a consignment, which was declared as tea, arriving in Hong Kong from Thailand via the Mainland on July 20. The batch of suspected cannabis buds was found inside the consignment after inspection. Upon follow-up investigations, Customs officers conducted a controlled delivery operation and arrested two local men aged 32 and 37 in Sheung Shui yesterday. About 1g of suspected crack cocaine and about 3g of suspected methamphetamine were also found in a private vehicle of one of the arrestees.

The arrestees have been jointly charged with one count of trafficking in a dangerous drug, and one of them has been further charged with one count of possession of a dangerous drug. The case will be brought up at the Fanling Magistrates' Courts tomorrow (July 23).

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 dangerous drugs case and seizes suspected drugs worth about $5.4 million Source: HKSAR Government Press Releases

Hong Kong Customs detects dangerous drugs case and seizes suspected drugs worth about $5.4 million Source: HKSAR Government Press Releases