Illegal use of foreign exchange by domestic institutions includes:
(1) Domestic pricing and settlement in foreign currency;
(2) Using foreign currency as pledge without authorization;
(3) Changing the use of foreign currency without authorization;
(4) Other acts of illegal use of foreign exchange.If a domestic institution commits any of the above-mentioned illegal uses of foreign exchange, the foreign exchange management authority shall order it to make corrections, force exchange, confiscate the illegal gains, and impose a fine equal to the amount of illegal foreign exchange. The following fines shall be imposed; if a crime is constituted, criminal liability shall be pursued in accordance with the law.
my country implements strict foreign exchange controls, and the law prohibits private foreign exchange transactions outside banks and designated foreign exchange swap markets. If the purchased foreign exchange is not used temporarily, it can be deposited in a bank or sold to a designated foreign exchange bank. However, Zeng went to the black market to sell without authorization, which disrupted the order of financial management and should be punished. Article 45 of the "Foreign Exchange Administration Regulations of the People's Republic of China" (hereinafter referred to as the "Foreign Exchange Administration Regulations"): Anyone who buys and sells foreign exchange privately, buys and sells foreign exchange in disguised form, buys and sells foreign exchange, or illegally introduces the purchase and sale of foreign exchange in a relatively large amount shall be given a warning and confiscated by the foreign exchange management authority. For illegal gains, a fine of less than 30% of the illegal amount is imposed. If the circumstances are serious, if a fine of more than 30% of the illegal amount constitutes a crime, criminal liability shall be investigated in accordance with the law.
Constitution of the crime of illegal foreign exchange trading
(1) The object of this crime is the state’s control of foreign exchange The normal management activities of foreign exchange
Illegal foreign exchange trading directly infringes on the country’s normal management activities of foreign exchange. The perpetrators bought and sold foreign exchange privately instead of selling to the Bank of China in accordance with regulations, which will inevitably reduce the country's foreign exchange reserves, affect the country's macro-management of foreign exchange, and undermine the only legal status of the RMB in the domestic market. At the same time, there are currently widespread foreign exchange “black markets” in major and medium-sized cities in my country."Some foreign currency holders conduct transactions on the "black market" and exchange foreign exchange at prices higher than the national price. This also disrupts the normal financial order, reduces the country's foreign exchange revenue, and greatly interferes with the effectiveness and effectiveness of foreign exchange management. The stability of the legal exchange rate.
(2) The objective aspect of this crime is mainly the illegal purchase and sale of foreign exchange
There are various forms of illegal foreign exchange trading. To sum up, they generally include the following:
1. Not going through designated foreign exchange banks or foreign exchange swap centers For private foreign exchange transactions, according to the relevant regulations on my country's foreign exchange management, all foreign exchange earnings of Chinese and foreign institutions or individuals must be sold to the Bank of China, and foreign exchange purchases and sales must be conducted through designated banks or foreign exchange swap centers.
2. Private purchase and sale of foreign exchange quotas. Agencies, groups, enterprises and institutions within my country have certain foreign exchange quotas according to national regulations, but they must use them within the scope of relevant regulations. However, some units , regardless of the country, laws and regulations, illegally buy and sell the foreign exchange usage quota owned by them, and make illegal profits from it. This kind of behavior is also illegal buying and selling of foreign exchange.
3. Other disguised foreign exchange transactions that are covered by legal forms but are actually illegal exchanges of foreign exchange in RMB or in kind.
(3) Subjectivity of this crime The crime can only be intentional and for the purpose of profit
The crime of illegal trading of foreign exchange is a direct intentional crime, that is, the perpetrator knows that his behavior is illegal buying and selling of foreign exchange, And intentional implementation to achieve the criminal purpose of seeking illegal benefits. The subjective aspect of this crime does not include indirect intention and negligence.
(4) The subjective aspects of this crime Subjects include natural persons and units
Specifically, they include Chinese institutions, units and individuals, foreign institutions in China and their staff, and other foreigners coming to China.
Illegal foreign exchange transactions generally involve huge funds, which will seriously lead to the loss of state-owned assets, and may even lead to social instability. Illegal foreign exchange transactions must be based on Relevant foreign exchange trading laws will be punished. For more legal knowledge, please go to the Legal Savior Network for professional consultation.
