Registration of remittance agents and money changers
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Registration of remittance agents and money changers |
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The Narcotics Bureau (NB) Financial Investigation Division (FID) conducted a campaign to raise awareness in the Sha Tau Kok area of the registration requirement for remittance agents and money changers. Because of the ease of movement across the Chung Ying Street and the foreign exchange restrictions on the Mainland, there are numerous money exchange remittance businesses operating in the area. The businesses operate either by means of cash couriers or remittances. With the introduction of recent related legislation, businesses providing such services are required to register with the NB. NB Chief Inspector Mr Mark Butler and officers from the FID and Sha Tau Kok Division visited 59 locations in the area, distributing leaflets and explaining the legislation to the public. The campaign was well received with positive feedback from local residents.
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