17th July 2025 – (Hong Kong) Hong Kong Customs yesterday (16th July) uncovered a case involving a local company conducting multiple high-value silver jewellery transactions, each exceeding HK$120,000, without registering under the Dealers in Precious Metals and Stones Regulatory Regime. A company director was arrested in connection with the case.
The investigation remains ongoing, and the individual has been released on bail while further inquiries are conducted.
Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the regulatory regime, effective since 1st April 2023, mandates that anyone conducting transactions involving precious metals and stones valued at or above HK$120,000 in Hong Kong must register with the Commissioner of Customs and Excise. Non-compliance carries a maximum penalty of a HK$100,000 fine and six months’ imprisonment upon conviction.
Hong Kong Customs has reminded dealers in precious metals and stones to secure the necessary registration before engaging in any cash or non-cash transactions exceeding the HK$120,000 threshold.