A specified transaction means a transaction that – is carried out by a person, while carrying on a precious metals and stones business, in respect of which transaction payment or payments, of at least the amount (i.e. HKD120,000 or equivalent amount in another currency) in total, is made or received in any way or combination of ways (other than in cash) in Hong Kong, whether the transaction is executed— in a single operation; or in several operations that are linked or appear to be linked; and is not a specified cash transaction*.   * Specified cash transaction A specified cash transaction means a transaction carried out by a person, while carrying on a precious metals and stones business, in respect of which transaction a payment or payments in cash, of at least the amount specified in Schedule 3H of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (i.e. HKD120,000 or equivalent amount in another currency) in total, is or are made or received in Hong Kong, whether the transaction is executed— in a single operation; or in several operations that are linked or appear to be linked.