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| HK to Adopt New Rule Against Money Laundering |
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Hong Kong's Security Bureau said Thursday remittance agents and money changers must verify customers' identities and record transactions of 8,000 HK dollars (US$ 1,026) or more since Friday. They must also verify the identity of anyone who receives a remittance of 8,000 HK dollars or more, the bureau added. The requirements aim to meet the new international standard related to combating money laundering and terrorism financing. Customers must produce their Hong Kong identity cards - or certificate of identity, document of identity or travel document -for verification, and provide their addresses and telephone numbers. Agents and money changers must also record and retain the particulars of the sender and the instructor of any transaction if the two are not the same person. Commissioner for Narcotics Sally Wong urged them to include the sender's information in the transactions, to facilitate remittance to countries which demand such information. She said those who came across suspicious transactions should report to the joint financial intelligence unit, a team set up jointly by Police and Customs. (Xinhua News Agency January 26, 2007) |
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