Customs Seizes Illicit Cigarettes Worth HK$29m
"); jQuery("#212 h3").html("
"); });
2022-04-08 HKT 20:38
Share this story
Hong Kong Customs seized about 10.5 million suspected illicit cigarettes with an estimated market value of about HK$29 million at a logistics site in Tuen Mun on Friday. Two 28-year-old men were arrested.
The department said in a statement that officers found the cigarettes inside a 40-foot container at Lam Tei during spot checks.
They said the value of duties on such a cargo in Hong Kong would be about HK$20 million. Investigations are ongoing and authorities said further arrests could not be ruled out.
Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possessing, selling or buying illicit cigarettes is liable to a maximum fine of HK$1 million and imprisonment for two years.
TOPPAN Edge Becomes Japans First Qualified VLEI Issuer
The Global Legal Entity Identifier Foundation (GLEIF) has announced TOPPAN Edge, a subsidiary of TOPPAN Holdings that p... Read more
SFC And Dubais DFSA Partner On Cross-Border Regulatory Cooperation
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (D... Read more
Toss To Launch Finance Super-App In Australia, Plans Won-Based Stablecoin
South Korea’s fintech unicorn Toss is preparing to launch its finance super-app in Australia before the end of this y... Read more
China Funds Research On Stablecoins And Cross-Border Oversight
China’s largest government-backed research funder has begun accepting applications for studies on stablecoins and the... Read more
XTransfer, CZBank Shanghai Branch Form Cross-Border Finance Partnership
XTransfer has entered into a partnership with the Shanghai branch of China Zheshang Bank (CZBank). The agreement was si... Read more
Brinc Launches VentureVerse Through Acquisition Of OG Club
Brinc, a Hong Kong-based venture acceleration and corporate innovation firm, has acquired OG Club, a decentralised auto... Read more