MIL-OSI Asia-Pac: Woman convicted of operating money service online without licence

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Source: Hong Kong Government special administrative region

Woman convicted of operating money service online without licence
Woman convicted of operating money service online without licence
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     A woman was fined $8,000 today (June 23) at Kwun Tong Magistrates’ Courts after being convicted of operating a money service without a valid licence.      In July last year, Customs officers initiated an investigation against a woman who was suspected of operating a remittance business without a licence via a social media platform. After an in-depth investigation, Customs officers discovered that the woman used her personal bank account to operate the remittance business.     Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, a person who operates a remittance and/or money changing service needs to first obtain a licence from the Customs and Excise Department. The maximum penalty for such operators without a valid licence upon conviction is a fine of $100,000 and imprisonment for six months.     Customs reminds consumers to procure services from licensed money service operators. A register of licensees is accessible from the website of Customs’ Money Service Operators Licensing System at eservices.customs.gov.hk/MSOS/wsrh/001s1?request_locale=en.     Members of the public may report any suspected unlicensed money service operation to Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk).

 
Ends/Thursday, June 23, 2022Issued at HKT 14:50

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MIL OSI Asia Pacific News