First of all, we need to explain what a money service operator license is.。The money service operator license is in accordance with the Hong Kong Anti-Money Laundering Ordinance，Anyone wishing to operate remittance and/or currency exchange services(i.e. money services as defined in the Anti-Money Laundering Ordinance)The person must report to the Commissioner of Customs and Excise(Commissioner)License applied for。Operating money services without a license from the Commissioner，It is a crime，Once convicted，punishable by a fine of $100,000 and imprisonment for 6 months。
The review of license issuance is extremely strict。According to the anti-money laundering regulations，The Commissioner is the relevant authority，Responsible for supervising money service operators(i.e. remittance agents and money changers)，Supervise the compliance of licensed money service operators with customer due diligence and record-keeping obligations and other licensing requirements，and crack down on unlicensed money services。This license guarantees the rights and interests of both cross-border remittance customers and license holders.。
It not only ensures the safety of customer funds，It also restricts license holders from being involved in criminal activities such as money laundering.。
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