On 5August2022, the Customs and Excise Department has taken the
following disciplinary actions against "Ji Xiang Exchange Remittance Limited" and other 3 licensed money service operators. Decision on disciplinary action taken would be Public Reprimand and Ordering Remedial Action. The matter concerned include:
(i) Section 5(5) and Section 13 of Schedule 2 of the Ordinance, namely failing to verify the originator’s identification document, to record the originator's identification document number or recipient’s address before carrying out fifteen remittance transactions;
(ii) Section 5(5) and Section 20 of Schedule 2 of the Ordinance, namely failing to keep the original or copy of the payment records of fifteen remittance transactions; and
(iii) Section 40 of the Ordinance, namely failing to notify the Commissioner of the Customs and Excise Department of a change in particulars of a bank account for provision of money service within a specified period of time.
