19th December 2025 – (Hong Kong) Customs officers have uncovered a case involving a local company suspected of conducting watch transactions worth more than HK$120,000 without registering under the Dealers in Precious Metals and Stones Regulatory Regime. The company’s director was arrested on Thursday, 18th December.
An investigation is under way. The arrested individual has been released on bail.
Under the Anti‑Money Laundering and Counter‑Terrorist Financing Ordinance (Cap. 615), unless exempted, any person seeking to carry on a business dealing in precious metals and stones and engaging in any transaction — whether paying or receiving — with a total value of HK$120,000 or above in Hong Kong must register with Hong Kong Customs. Any dealer who is not registered but claims to be, claims to be authorised to conduct, or conducts cash or non‑cash transactions at or above this threshold faces a maximum penalty of a HK$100,000 fine and six months’ imprisonment upon conviction.
Customs reminded dealers that they must obtain the requisite registration before carrying out any cash or non‑cash transactions totalling HK$120,000 or more.
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