Money service operator convicted of operating without licence

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     A man and a woman were each fined $15,000 today (March 9) and disqualified from holding a Money Service Operator licence for six months at Tuen Mun Magistrates' Courts for operating a money service without a valid licence.

     Acting on information, officers of Customs and Excise Department (C&ED) found that the man and woman had operated the money service on March 9, 2017 without a licence from the Commissioner of Customs and Excise. They were jointly charged with the offence.

     Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, a person who wishes to operate a remittance and/or money changing service is required to apply for a licence from the C&ED. Any person who operates a money service without a valid licence commits an offence. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for six months.

     Members of the public can report any suspected unlicensed money service operation on the Customs 24-hour hotline 2545 6182.

Ends/Friday, March 9, 2018
Issued at HKT 18:30

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