Licensing & compliance
Licence
Merchants Century Limited (招商世紀有限公司) is licensed by the Commissioner of Customs and Excise to operate a money service in Hong Kong under Part 5 of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615). "Money service" under the Ordinance means a money changing service and/or a remittance service.
The Register of Licensees is maintained by the Commissioner and is open to public inspection at eservices.customs.gov.hk/MSOS. Publication on the register does not constitute a guarantee by the Commissioner of the performance or creditworthiness of any licensee.
Register entry
- Licensee
- MERCHANTS CENTURY LIMITED 招商世紀有限公司
- Trading name
- Fu Wah Money Exchange 富華找換
- Specified premises
- Shop 3C, G/F, 41A–41B Fu Hing Street, 15/19 San Fat Street, Sheung Shui, New Territories
- Trading name
- Fu Tat Money Exchange 富達找換
- Specified premises
- Shop B (portion), G/F, 87 San Fung Avenue, Shek Wu Hui North, Fanling, New Territories
- Regulator
- Customs and Excise Department, Money Service Supervision Bureau
What the licence covers
- Sending, or arranging the sending of, money to a place outside Hong Kong.
- Receiving, or arranging the receipt of, money from a place outside Hong Kong.
- Exchanging currencies.
The licence does not permit us to take deposits, lend, or issue investment products, and we do not do so.
AML/CFT programme
- Customer due diligence. Identification and verification of customers, directors and beneficial owners before establishing a business relationship or carrying out an occasional transaction above the statutory threshold, with enhanced measures for higher-risk customers.
- Ongoing monitoring. Transaction monitoring against the expected profile of each customer.
- Screening. Sanctions, politically-exposed-person and adverse-media screening of senders and beneficiaries.
- Record keeping. Identification and transaction records retained for the period required by Schedule 2 of the Ordinance.
- Reporting. Suspicious transaction reports filed with the Joint Financial Intelligence Unit; periodic returns submitted to C&ED.
- Governance. A designated Compliance Officer and Money Laundering Reporting Officer, documented AML/CFT policy, and recurring staff training.
- Client funds. Money service operations conducted only through bank accounts held in the licensee's name.
Complaints
Complaints about our service may be raised at either licensed premises or by email. Unresolved matters relating to our conduct as a licensee may be referred to the Customs and Excise Department.