Hong Kong Customs detects case involving precious metals and stones dealer carrying out specified cash transaction without Category B registration
Hong Kong Customs yesterday (October 22) detected a case involving a local company that conducted cash transactions of watches 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).
Source: AI-found images
SCST congratulates Hong Kong, China athletes on winning six more medals today in Asian Para Games
The Secretary for Culture, Sports and Tourism, Miss Rosanna Law, today (October 23) extended her congratulations to swimming athlete Chan Yui-lam on winning a silver medal in Women's 200m Individual Medley SM14; table tennis athletes Chiu Kan-shan and Wong Yue-ching on winning a silver medal in Women's doubles - Class WD14; and table tennis athletes Ng Mui-wui and Wong Ting-ting on winning a silver medal in Women's doubles - Class WD22 at the 5th Asian Para Games.
Miss Law also congratulated fencing athlete Yu Chui-yee on winning a bronze medal in Women's Sabre Category A; table tennis athletes Ho Ka-sing and Wong Chi-yin on winning a bronze medal in Men's doubles - Class MD18; and table tennis athletes Wan Wai-lok and Yuen King-shing on winning a bronze medal in Men's Doubles - Class MD22.
Miss Law said, "The Hong Kong, China delegation secured six more medals today. Following her success in the butterfly, backstroke, and relay events, Chan Yui-lam secured a silver medal in the individual medley, demonstrating her all-around prowess. The table tennis team also achieved another milestone, where Chiu Kan-shan, Wong Yue-ching, Ng Mui-wui, Wong Ting-ting, Ho Ka-sing, Wong Chi-yin, Wan Wai-lok and Yuen King-shing collectively won two silver and two bronze medals in the doubles events. Including competitions held in the previous days, the table tennis team has now won a total of 15 medals - five silver and 10 bronze - a truly gratifying achievement. Meanwhile, Yu Chui-yee continued her excellent form, clinching another bronze medal with an outstanding performance. Tomorrow (October 24) marks the final day of the Asian Para Games. Our fencing and boccia athletes will continue to give their all. Let’s join together to cheer them on!"
The Hong Kong, China Delegation has so far won 36 medals, namely two gold, 13 silver and 21 bronze medals, at the Asian Para Games. The newly added six medals are as follows:
Silver medals
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Swimming: Women's 200m Individual Medley SM14
Chan Yui-lam
Table Tennis: Women's doubles - Class WD14
Chiu Kan-shan, Wong Yue-ching
Table Tennis: Women's doubles - Class WD22
Ng Mui-wui, Wong Ting-ting
Bronze medals
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Fencing: Women's Sabre Category A
Yu Chui-yee
Table Tennis: Men's doubles - Class MD18
Ho Ka-sing, Wong Chi-yin
Table Tennis: Men's Doubles - Class MD22
Wan Wai-lok, Yuen King-shing
