Is the exchange rate business money laundering?

Therefore, it is illegal for individuals to exchange foreign currencies privately. RMB is my country's legal currency and usually needs to be converted into local currency when leaving the country. Foreign currency exchange must go through bank channels, and is subject to strict national foreign exchange supervision, and cannot be exchanged at will. Next, the editor of Legal Savior Network has compiled some relevant knowledge for your reference. Let’s take a look at the content.

1. Is the exchange rate business money laundering?

Private foreign exchange exchange is illegal and may involve money laundering risks.

According to relevant laws and regulations, the amount of private foreign exchange purchase or disguised foreign exchange purchase and sale exceeding the prescribed standards will be They will face penalties from the State Administration of Foreign Exchange, including warnings, confiscation of illegal gains and punitive fines.

Private transactions in foreign currencies are expressly prohibited.

As the only legal currency stipulated by law, RMB usually needs to be exchanged into the destination when leaving the country. national currency.

Foreign currency exchange must go through bank channels and is restricted by national foreign exchange control policies and is not allowed without authorization conduct.

"Criminal Law" Article 191

The crime of money laundering refers toKnowingly knowing that it is a drug crime, organized crime of a mafia nature, terrorist activity crime, smuggling crime, corruption and bribery crime, crime of disrupting financial management order, crime of financial fraud and the proceeds generated therefrom, in order to cover up or conceal its source and nature, the following are the following: One of the acts:

Providing a capital account;

Assist in converting property into cash, financial instruments, and securities;

Assisting fund transfer through transfer or other settlement methods;

Assist in remitting funds overseas;

Disguising or concealing criminal proceeds and the source and nature of the proceeds by other means.

2. What is the crime of providing money laundering?

For those who assist Those who launder illegal gains from others and are involved in money laundering crimes should be given corresponding criminal penalties in accordance with the clear provisions of our country's laws and regulations.

The specific sentencing standards are as follows: first, a fixed-term imprisonment of not more than five years; secondly, , you can choose detention as an additional penalty; finally, you need to pay a certain amount of fine.

If the circumstances are more serious, you may be sentenced to a fixed-term imprisonment of between five and ten years, and you must also bear a fine

In addition, it should be noted that similar behavior will also be considered. If it is a crime, such units will be fined accordingly, and the directly responsible person in charge and other directly responsible persons will also be punished in accordance with the above provisions.

Money laundering is the use of various means to cover up, conceal, and convert illegal income obtained from crimes or other illegal activities to make it appear that

The crime of money laundering refers to the perpetrator's violation of our country's criminal law. The above-mentioned money laundering-related acts were carried out in accordance with the relevant provisions of the Act, thereby constituting a crime.