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

Exclusive: hong kong customs busts unregistered dealer in illegal precious metals trade

​Hong Kong Customs yesterday (May 28) detected a case which involved a local company that conducted diamond transactions with total value of each transaction exceeding HK$120,000 without a registration under the Dealers in Precious Metals and Stones Regulatory Regime. Two persons suspected to be connected with the case were arrested.

An investigation is ongoing. The two persons have been released on bail pending further investigation.

According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effect on April 1, 2023. Any person who is seeking to carry on a business of dealing in precious metals and stones in Hong Kong 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 the Commissioner of Customs and Excise. Any dealer, other than a registrant, claims to be a registrant, claims to be authorised to carry out, or carries out any cash or non-cash transaction(s) with total a value at or above HK$120,000 is liable on conviction to a maximum fine of HK$100,000 and imprisonment for six months.

Hong Kong Customs reminds all dealers in precious metals and stones that the transitional period for registration under the Regime has ended. Any dealer who submits their applications for registration from January 1, 2024, onwards must successfully obtain the relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above $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 Hong Kong 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 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Source: AI-generated images

Correctional officers stop fight between persons in custody

​Correctional officers at Stanley Prison stopped a fight between two persons in custody today (October 18).

At 10.44am today, two male persons in custody aged 29 and 33 engaged in a fight inside a workshop. Officers immediately stopped the fight and called for reinforcement.

During the incident, one of the persons in custody sustained injuries to his ear, neck, shoulder and arms. He was referred to a public hospital for further treatment after being examined and treated by the institution Medical Officer. The other person in custody sustained an injury to his arm. He did not need to be sent to a public hospital after receiving medical examination and treatment from the institution Medical Officer.

The case has been reported to the Police for investigation.

The two persons in custody were sentenced to imprisonment for the offences of trafficking in a dangerous drug and theft in May 2021 and September 2023, respectively.