The Supreme People's Court and the Supreme People's Procuratorate jointly issued the "Interpretation on Several Issues Concerning the Application of Laws in Handling Illegal Funds Payment and Settlement Business, Illegal Trading of Foreign Exchange Criminal Cases", stipulating the implementation of illegal foreign exchange transactions such as reselling foreign exchange or disguised foreign exchange trading, disrupting financial markets. If the order is serious and the circumstances are serious, the crime of illegal business shall be convicted and punished.
According to the person in charge of the relevant departments of the Supreme People's Court and the Supreme People's Procuratorate, the illegal trading of foreign exchange in underground banks mainly consists of the more traditional reversal of foreign exchange in the form of direct domestic transactions and the current common cross-border “cross-border” method. Transit in exchange for foreign exchange transactions.
Buying and selling foreign exchanges means that criminals are buying low and selling high in the domestic foreign exchange black market, and earning exchange rate differences. This type of money is commonly known as "exchange of cattle." Disguised trading of foreign exchange means that it is not a direct sale between the renminbi and foreign exchange in the form of a foreign exchange, but a foreign exchange repayment of the renminbi or repayment of foreign exchange in renminbi, and exchange of foreign exchange and renminbi.currencyThe act of value conversion.
* The main business of the underground money house is the transnational (currency) payment, which is a key target*
Transnational (currency) redemption is a typical disguised trading of foreign exchange. Cross-border (international) redemption-type underground money houses, criminals collude with overseas personnel, enterprises, institutions, or use to open overseasbankAccount to assist others in cross-border remittances and transfer of funds. This kind of underground money house is also known as a transnational (international) redemption type underground bank, that is, the funds are unidirectionally circulated inside and outside the country, and there is no physical flow. Usually, the balance between the two places is realized in the form of reconciliation. At present, the main business of most underground money houses is the transnational (currency) payment, which leads to huge capital outflows and huge social harm, which is a key target.
According to the explanation, if illegally engaging in fund payment settlement business or illegally buying or selling foreign exchange, if one of the following circumstances occurs, it shall be deemed that the illegal business operation is "serious": (1) the illegal business amount is more than 5 million yuan; (2) illegal The amount obtained is more than 100,000 yuan.
(Article source: Economic Communication China Station)