Hong Kong Customs Investigates Unregistered Precious Metal and Stone Dealings Exceeding HK$120,000

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

Hong Kong Customs yesterday (August 31) detected a case involving a local company that conducted transactions of diamonds and jewellery containing precious metals and stones valued at over HK$120,000, without registration 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. 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

Hong Kong Customs seizes suspected dangerous drugs worth over $5 million

Hong Kong Customs on August 30 seized about 13 kilograms of suspected ketamine, with an estimated market value of over $5 million, at Hong Kong International Airport.

Through risk assessment, Customs on that day inspected an air parcel, declared as swimming pool sanitisers, arriving in Hong Kong from Spain via France. Upon inspection, Customs officers found the batch of suspected ketamine inside four plastic buckets in the parcel.

After a follow-up investigation, Customs officers conducted a controlled delivery operation yesterday (August 31) and arrested a 23-year-old local man suspected to be connected to the case in Kwai Chung.

The arrested person has been charged with one count of attempting to traffic in a dangerous drug. The case will be brought up at the West Kowloon Magistrates' Court tomorrow (September 2).

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 to 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 seizes suspected dangerous drugs worth over $5 million Source: HKSAR Government Press Releases