Hong Kong Customs detects case involving precious metals and stones dealer carrying out both specified cash and non-cash transactions without registration
Hong Kong Customs yesterday (June 15) detected a case involving a local company that conducted cash and non-cash transactions of watches containing precious metals and stones 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), 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, 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).
Hong Kong Customs, Photo source: reference image
CCIDA sponsors industry to participate in 22nd China International Cartoon and Animation Festival
Sponsored by the Cultural and Creative Industries Development Agency (CCIDA) under the Culture, Sports and Tourism Bureau, the Hong Kong Digital Entertainment Association organised the industry to participate in the 22nd China International Cartoon and Animation Festival (CICAF) held in Hangzhou from June 15 to 19. To promote Hong Kong's cultural and creative industries, the Hong Kong Pavilion themed "Designer Toy, Game, Animation and Comics" was set up to showcase art toys, games, animations, comics, virtual idols, and merchandise and spin-offs derived from cultural intellectual properties (IPs). The Hong Kong Pavilion was well received during the five-day festival period, demonstrating the keen interest in Hong Kong's dynamic and vibrant digital entertainment industry.
CCIDA sponsored the Hong Kong Pavilion at the CICAF for the third consecutive year. A total of 16 Hong Kong enterprises were invited to participate this year, showcasing nearly 20 IPs of a diverse range and their creative products. The pavilion presented not only art toys, games, animations, and comics that blend authentic Hong Kong characteristics with trendy elements, but also interactive creative products integrating augmented reality and virtual reality technologies. The exhibits demonstrated integration of technology and culture while offering visitors an immersive experience at the exhibition. The participation at the CICAF not only highlighted Hong Kong's unique strengths in the digital entertainment sector, but also promoted the local industry's outstanding creativity and capabilities to the Chinese Mainland market, deepened exchanges and co-operation in the cartoon and animation industry in the two places, and helped the industry expand its commercial and trade networks.
Hosted by the National Radio and Television Administration, China Media Group, and the People's Government of Zhejiang Province, the CICAF is one of the largest high-profile and highly influential cartoon and animation festivals on the Chinese Mainland. For more information on the CICAF and the Hong Kong Pavilion, please visit cicaf.hzxcw.gov.cnand www.hkdea.org.
The Cultural and Creative Industries Development Agency under the Culture, Sports and Tourism Bureau sponsored the industry to participate in the 22nd China International Cartoon and Animation Festival held in Hangzhou from June 15 to 19 and set up the Hong Kong Pavilion, showcasing nearly 20 cultural intellectual properties and their creative products. Photo shows participating companies interacting with visitors. Source: HKSAR Government Press Releases
The Cultural and Creative Industries Development Agency under the Culture, Sports and Tourism Bureau sponsored the industry to participate in the 22nd China International Cartoon and Animation Festival held in Hangzhou from June 15 to 19 and set up the Hong Kong Pavilion, showcasing nearly 20 cultural intellectual properties and their creative products. Photo shows the Hong Kong Pavilion attracting an enthusiastic response from visitors, demonstrating a keen interest in Hong Kong's dynamic and vibrant digital entertainment industry. Source: HKSAR Government Press Releases
The Cultural and Creative Industries Development Agency under the Culture, Sports and Tourism Bureau sponsored the industry to participate in the 22nd China International Cartoon and Animation Festival held in Hangzhou from June 15 to 19 and set up the Hong Kong Pavilion, showcasing nearly 20 cultural intellectual properties and their creative products. Source: HKSAR Government Press Releases
