Hong Kong Customs Investigates Precious Metals and Stones Transaction Without Category B Registration

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

Hong Kong Customs yesterday (August 18) detected a case involving a local company that conducted a cash transaction of a watch containing precious metals and stones valued at over HK$120,000 while not being a Category B registrant under the Dealers in Precious Metals and Stones Regulatory Regime. The 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, 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 suspected case of illegal importing of animals

Hong Kong Customs yesterday (September5) detected a suspected case of illegal importing of animals atthe Chung Ying Street Checkpoint in Sha Tau Kok. Three suspected illegally imported live cats with an estimated market value of about $24,000 were seized.

Customs officers yesterday intercepted a56-year-oldlocalwoman atthe Checkpoint. Upon examination, three suspected illegally imported live cats were seized from her shoulder bag, andshe was subsequently arrested. The case has been handed over to the Agriculture, Fisheries and Conservation Department for follow-up investigation.

Customs reminds the public that importing animals into Hong Kong without a valid permit is an offence.

Under the Rabies Regulation, any person found guilty of illegally importing animals, carcasses or animal products is liable to a maximum fine of $50,000 and imprisonment for one year.

Hong Kong Customs detects suspected case of illegal importing of animals Source: HKSAR Government Press Releases