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Under the Anti-Money Laundering and Counter-Terrorist (Financial Institutions) Ordinance (Ordinance), which came into operation today (April 1), any person who wishes to operate a money service business, i.e. remittance and/or money changing service business, must apply for a licence from the Commissioner of the Customs and Excise (Commissioner).
Existing remittance agents and money changers (RAMCs) who have already been registered with the Joint Financial Intelligence Unit of the Hong Kong Police Force on or before March 31, 2012, are also required to apply for a licence from the Commissioner within a 60-day transitional period from April 1 to May 30 if they wish to continue their business after May 30, 2012.
The Commissioner will grant a licence to an applicant only if he is satisfied that the applicant has complied with the requirements as set out in the Ordinance.
A new electronic licensing system, namely the Money Service Operators Licensing System, was launched today for the on-line submission of applications. Applicants can access the system on the Hong Kong Customs' homepage (www.customs.gov.hk).
Applications may be submitted directly to a designated Customs Office, and application forms are also available at the following offices:
(a) 3/F, Customer Service Counter
Customs Headquarters Building
222 Java Road, North Point
Hong Kong
(b) Money Service Supervision Bureau (MSSB)
Units 1218 - 22, 12/F, Nan Fung Commercial Centre
19 Lam Lok Street, Kowloon Bay
Kowloon
Completed application forms together with relevant supporting documents should be submitted to the MSSB in Kowloon Bay.
For enquiries, please call the MSSB at 2707 7709.
Ends/Sunday, April 1, 2012
Issued at HKT 09:01
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