To combat “money laundering” activities，All currency exchange or remittance shops in Hong Kong need to apply for a license from the Customs and Excise Department，Only allowed to operate after multiple approvals，The five-year license has expired since 2012，Customs prosecuted a total of 44 cases of unlicensed currency exchange shops last year，Five money exchange shops were also prosecuted for failing to perform customer due diligence，Customs reminds operators to renew licenses this year，It also emphasized that it will continue to review the operation of exchange shops.，Send personnel for surprise inspections from time to time，To combat illegal funds entering and exiting Hong Kong。
"Combating Money Laundering and Counter-Terrorist Financing"(financial institution)The Ordinance came into effect in April 2012，Chief Trade Control Officer of the Customs Money Services Supervision Bureau, Au Wai-shing, said，Among the forty-four successful prosecution cases，The maximum penalty is two months' imprisonment，Two years probation；The case with the highest fine was HK$60,000。
He pointed，The latter case occurred when officers were conducting inspections，It was discovered that a goldware shop in Sham Shui Po did not have a license，Blatantly operating exchange services，Finally sentenced to a fine。Whenever engaging in money services such as exchange or remittance，All proprietors must apply for a license from the Customs and Excise Department；And as of last November，There are approximately 1,290 licensed currency exchange shops in Hong Kong。
District representation，Customs will examine the applicant’s finances and criminal background，For example, whether you have violated the anti-money laundering regulations before?，and related criminal ordinances such as the Organized and Serious Crimes Ordinance；Customs will also send personnel to the registered shop or office address to conduct compliance inspections.，If it matches
Require
，A license can be issued within thirty-three working days.。
Ou also said，After a licensed operator obtains a license，Need to fulfill license conditions and regulations，Including the requirement to perform customer due diligence and keep transaction records for six years；If you wish to join as a director of a licensee、Partner，Or add a branch or bank account，You need to obtain prior approval from the Commissioner before joining.。It is illegal to operate money services without a license。
Customs will also develop a risk index for licensees，and use this to formulate an inspection plan，Approximately 160 licensees are inspected from time to time every year。
To prevent money laundering activities，Ou Weicheng said，Exchange shop licensees must conduct customer due diligence，Whenever a customer
Require
Remittance of HKD 8,000 or above，Or the exchange amount amounts to HKD 12,000 or above，The licensee must conduct relevant examinations，"Or，Customers suspected of money laundering or terrorist financing are required(review)。
” he continued，The vetting process must verify their identity，including ID card、Proof of address or power of attorney, etc.，"If you have any doubts, you should ask，How to get money，Listen to the explanation to see if it is reasonable，Almost like investigating a crime。If you feel suspicious, you should stop trading.，If a transaction has been made, a suspicious transaction report should be made to the Joint Financial Investigation Team。
"The legislation has been in effect to this day.，Customs recorded five cases of licensees failing to perform customer due diligence requirements，Among them, a sole proprietor was fined HK$21,000 by the Customs in December last year.，Alleged failure to identify remittance and exchange transactions between May 2013 and April 2014、Verify and record the identity of senders and customers。
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