Anti-Money Laundering and Counter-Terrorist Financing

To enhance the regulatory regime for combating money laundering and terrorist financing ("ML/TF") in fulfilment of Hong Kong's obligations under the Financial Action Task Force ("FATF"), the Anti-Money Laundering and Counter-Terrorist Financing Ordinance ("AMLO") (Cap. 615) has been amended to introduce a registration regime for dealers in precious metals and stones. The Customs and Excise Department would take charge of the regime to enforce the registration requirements and supervise the anti-money laundering and counter-terrorist financing ("AML/CTF") conduct of registrants.

Any dealer who is seeking to engage in cash transactions with total value at or above HKD120,000 and non-cash transactions with total value at or above HKD120,000 in the course of business is required to register as a Category B registrant. A Category B registrant is subject to AML/CTF supervision.

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