Anti-Money Laundering Course (Cantonese)

“Customer Due Diligence and Case Studies” course (Cantonese) co-organized by our Association and Institute of Professional Education and Knowledge (PEAK) will be held on 30 March 2017 (Thursday night). Since sufficient staff training is significantly effective in combating money laundering and terrorist financing, and HKC&ED requires MSOs to receive relevant AML continuous training, our Association encourages MSOs to proactively participate as well as arrange and encourage their staff to attend our courses. This is also a good opportunity to raise staff’s legal awareness and enhance their knowledge on the required level of compliance.
The course only costs MSOA Member HK$380 each. To verify the eligibility to the special discount, applicants must enroll in the course through the Hong Kong Money Service Operators Association. For more details or any queries, please visit our website or call our hotline at 3176 2004.

Money service operator convicted of failing to comply with customer due diligence and record-keeping requirements

A licensed money service operator was fined $126,000 today (January 18) at Eastern Magistrates’ Courts for failing to comply with the customer due diligence and record-keeping requirements as stipulated in the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance. A compliance inspection conducted by officers of the Customs and Excise Department (C&ED) revealed that the company had failed to record the identification of customers in connection with two remittance transactions conducted between May and June 2015 as well as to record the addresses of customers in connection with ten remittance transactions conducted between May and October 2015...Read More

Money service operator convicted of operating without licence

A company and its director were fined $28,000 in total today (January 25) as well as disqualified from holding a Money Service Operator licence for 6 months and 12 months respectively at Eastern Magistrates' Courts for operating a money service without a valid licence. Officers of Customs and Excise Department (C&ED) on patrol found two outlets of the company having operated the money service between October 11 and December 4, 2015 without a licence from the Commissioner of Customs and Excise...Read More

THX Holdings Limited is the Hong Kong Super Agent of Moneygram. Its principal service is small amount cash remittance.

The Customer Due Diligence requirement of Moneygram is subject to the statutory regulation provisions of the Hong Kong Customs and Excise Department. It even puts great effort on performing Customer Due Diligence procedures towards customers with remittance amounts less than HKD8,000. Since Moneygram is an internationally renowned American remittance listed company, most of the customers, especially foreigners, are willing to provide personal information and documents based on the confidence in this international brand, and hence smoothening the due diligence procedures. Also, it attracts more visitors and brings additional business opportunities to the agents.

In addition, the comprehensive due diligence system of Moneygram embeds the record of global high risk or sanctioned commercial criminals. In the event of remittance from blacklisted customers, system will automatically block the services so that the remittance services are more secure.

THX Holdings (HK) Limited
Address: Room 507, Greenfield Tower, Concordia Plaza,
No.1 Science Museum Road, Tsim Sha Tsui East, Kowloon
Tel: (852) 2369 2609     Fax: (852) 3019 6200     Email: [email protected]

THX Holdings (HK) Limited
Address: Room 507, Greenfield Tower, Concordia Plaza,
No.1 Science Museum Road, Tsim Sha Tsui East, Kowloon
Tel: (852) 2369 2609     Fax: (852) 3019 6200
Email: [email protected]

China signals change of course on long-standing yuan policy

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The suspect, who was recently declared bankrupt, was inside his locked bedroom when officers wearing bulletproof vests broke into ...Read More

Sixfold surge in seizures of bogus HK$100 banknotes prompts police warning to Hong Kong’s Lunar New Year shoppers

A sixfold surge in seizures of bogus HK$100 banknotes was recorded last year, according to police figures, prompting the force to warn the public to watch out for fakes in the run-up to Lunar New Year.

Counterfeiters usually targeted shops, stalls at wet markets, convenience stores and supermarkets in their efforts to slip the notes into circulation, officers said, since shop owners and employees were often too busy to double-check money. Some Hong Kong residents had even seen their notes replaced by counterfeits while shopping ...Read More