China's foreign exchange trading supervision network is getting tighter and tighter, editor reminds you:
Tens of thousands of roads, the first safe, exchange is not standardized, friends and relatives tears!
On the fifth day of the Chinese New year's New year, many overseas Chinese were shocked by a speech made by a top procurator and chief executive of the Supreme Law, while the Chinese were still welcoming the God of Wealth.
From now on: illegal foreign exchange trading and profit more than one hundred thousand RMB, according to the crime of illegal business, will be investigated for criminal responsibility.
This also means that everyone's usual Time line exchange era is coming to an end!
A few days ago, the Supreme people's Court and the Supreme people's Procuratorate jointly issued an "explanation of the application of law in criminal cases of illegal payment and settlement of funds and illegal foreign exchange transactions." Clearly stipulating: if illegal foreign exchange trading, such as buying and selling foreign exchange or trading in foreign exchange in disguise, disrupts the order of the financial market, and if the circumstances are serious, the offender shall be convicted and punished for the crime of illegal business.
1, what is buying and selling foreign exchange in disguise?
The first out-of-date behavior refers to the buying and selling of foreign exchange in individuals' hands in China directly in cash.
The most common is to buy and sell foreign exchange in front of the branches of the Bank of China.
This illegal way is simple and rough, easy to be investigated and taken evidence, law enforcement agencies to strengthen the enforcement of the law is easy to control illegal acts.
The second act is to buy and sell foreign exchange in disguise. If the text is too lazy to read, such diagrams must have been seen:
Pictures of foreign exchange networks in disguise are available in Time line or group chat.
The transaction of foreign exchange in disguised form is not a direct transaction between RMB and foreign exchange, but takes the behavior of repaying RMB with foreign exchange or repaying foreign exchange with RMB and realizing the conversion of currency value with foreign exchange and RMB exchange.
This kind of concealment is strong, the investigation evidence is not easy, is also the future supreme law and the highest inspection and other law enforcement departments' key targets.
Cross-border payments, one-way circulation of funds at home and abroad, no physical flows, usually in the form of reconciliations to achieve a "balance between the two places".
Now most of the underground banks' main business is cross-border (border) payment, resulting in huge capital outflows and great harm to the society.
Although this is not directly through the bank to occupy 50, 000 per person per year foreign exchange limit, but this already belongs to the typical "disguised foreign exchange trading"
Anyone who makes a total of 5 million yuan in illegal foreign exchange transactions in this way, or has an illegal profit of more than one hundred thousand yuan, will be classified as a criminal offence on charges of illegal business.
What is the definition of profit one hundred thousand?
In addition to your friends in the Chinese daily exchange for me, I exchange for you, there are also a lot of foreign exchange companies specialize in overseas Chinese exchange services.
It is important to note that although a profit of one hundred thousand or a foreign exchange of 5 million is a large number, it is also pointed out in the explanation that this is a cumulative figure, so the exchange of small denominations may also be an inducement to a criminal offence.
2. What are the serious limits?
1. Illegally engaging in fund payment and settlement business or illegal foreign exchange trading shall be deemed to be "serious" illegal business operations in any of the following circumstances: (1) where the amount of illegal business is more than 5 million yuan; (2) the amount of illegal proceeds is more than 100,000 yuan.
2. Illegally engaging in fund payment and settlement business or illegal foreign exchange trading shall be deemed to be "particularly serious" acts of illegal business: (1) where the amount of illegal business is more than 25 million yuan; (2) if the amount of illegal proceeds is more than five hundred thousand yuan.
Serious circumstances and especially serious circumstances are criminal offences, but the severity of sentencing will be different.
How to exchange normally?
China has stepped up regulation, and the public should try not to exchange currency in the Time line. So how should we exchange normally?
As of January 1, 2019, the amount of individual exchange is still $50,000 per person per natural year.
The purpose of exchange can not be used in the United States to buy house, stocks to buy funds, also can not buy dividends, return-type insurance.
All bank transfers, Alipay, Baidu wallet, social app and other transfer methods will be regulated.
At the same time, relatives in the country should also pay attention to:
Since January 1, 2019, individuals with more than 50, 000 transactions and more than two hundred thousand transfers may be subject to large amounts of suspicious surveillance.
For the definition of large-scale payment transactions, a single or cumulative transaction of more than 50,000 yuan (including 50,000 yuan) and a foreign currency equivalent of more than US $10,000 (including US $10,000) on the same day.
2. Transfer of non-natural-person customer payment accounts to other accounts on a single transaction or cumulative transaction of more than 2 million yuan (including 2 million yuan) and foreign currency equivalent of more than two hundred thousand US dollars (including two hundred thousand US dollars).
(3) transfer of domestic payments equivalent to US $ one hundred thousand (including US $ one hundred thousand) in foreign currency over RMB five hundred thousand yuan (including RMB five hundred thousand) in single or cumulative transactions between payment accounts of natural persons and other accounts on the date of occurrence.
(4) transfer of cross-border payments of more than $10, 000 (including $10, 000) in foreign currency to a single or cumulative transaction of more than two hundred thousand yuan (including two hundred thousand yuan) in a natural person's client's payment account and other bank accounts on the day of the transaction.
The notice was put into effect on Feb. 1.
This means: large transactions in individual accounts and abnormal water flow will be monitored and managed by the central bank; This will include not only bank account receipts and payments, online bank receipts and payments records, but also records of non-bank payment institutions such as Alipay, social app payments.
In the future, we use Alipay or social app to spend more than 50, 000 yuan or more, transfer more than two hundred thousand, it is possible to be included in a large number of suspicious transactions for monitoring.
Overseas Chinese will inevitably encounter foreign exchange problems, some seemingly ordinary transfer transactions, may now have touched on the new law.
Remember its contents instead of long headlines, and be careful not to touch the law!
< explanation of the Application of law to the Criminal cases of illegal Foreign Exchange transactions in dealing with the illegal payment and settlement of funds
Source: Seattle Home, Chinese Life Network, Comprehensive report