Zhongxin Finance, January 15th, according to the State Administration of Foreign Exchange, recently, some typical cases of violations of foreign exchange have been notified as follows:

Case 1: The illegal sale of foreign exchange by Xiamen Sinong Jiahua Trading Co., Ltd.

  From April 2018 to March 2020, Xiamen Sinong Jiahua Trading Co., Ltd. illegally bought and sold 61 foreign exchange transactions through underground banks, with a total amount of US$4.572 million.

  This act violated Article 32 of the Regulations on the Administration of Foreign Exchange Settlement, Sale and Payment, and constituted an illegal foreign exchange transaction.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 3.851 million was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 2: Zhejiang Baorun Tonghui Asset Management Co., Ltd. illegal trading of foreign exchange

  In June 2019, Zhejiang Baorun Tonghui Asset Management Co., Ltd. illegally bought and sold one foreign exchange transaction through an underground bank with an amount of US$580,000.

  This act violated Article 32 of the Regulations on the Administration of Foreign Exchange Settlement, Sale and Payment, and constituted an illegal foreign exchange transaction.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 520,000 was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 3: The illegal sale of foreign exchange by a Fujian native Bai

  From April 2016 to April 2018, Bai illegally bought and sold 43 foreign exchange transactions through underground banks, with a total amount of US$6.747 million.

  This behavior violated Article 30 of the Measures for the Administration of Individual Foreign Exchange and constituted an illegal transaction of foreign exchange.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 2.728 million was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 4: The case of illegal trading of foreign exchange by Wu from Guangdong

  From May 2016 to December 2017, Wu illegally bought and sold 159 foreign exchange transactions through underground banks, with a total amount of US$5.571 million.

  This behavior violated Article 30 of the Measures for the Administration of Individual Foreign Exchange and constituted an illegal transaction of foreign exchange.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 5.4 million was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 5: Case of illegal trading of foreign exchange by Mr. Chen from Zhejiang

  From May 2018 to July 2020, Chen illegally bought and sold 84 foreign exchange transactions through underground banks, with a total amount of US$10.865 million.

  This behavior violated Article 30 of the Measures for the Administration of Individual Foreign Exchange and constituted an illegal transaction of foreign exchange.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 6.409 million was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 6: The case of illegal trading of foreign exchange by Mr. Shen from Zhejiang

  From May 2018 to September 2020, Mr. Shen illegally bought and sold 27 foreign exchange transactions through underground banks, with a total amount of US$3.167 million.

  This behavior violated Article 30 of the Measures for the Administration of Individual Foreign Exchange and constituted an illegal transaction of foreign exchange.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 3.137 million was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 7: The case of illegal trading of foreign exchange by Wang from Beijing

  In June 2018, Wang illegally bought and sold foreign exchange through an underground bank with an amount of US$782,000.

  This behavior violated Article 30 of the Measures for the Administration of Individual Foreign Exchange and constituted an illegal transaction of foreign exchange.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 650,000 was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 8: The case of illegal trading of foreign exchange by Zuo, a native of Yunnan

  From August 2018 to November 2019, Zuo illegally bought and sold 30 foreign exchange transactions through underground banks, with a total amount of US$10.759 million.

  This behavior violated Article 30 of the Measures for the Administration of Individual Foreign Exchange and constituted an illegal transaction of foreign exchange.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 7.409 million was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 9: The illegal sale of foreign exchange by a Hubei native Yi

  From January 2019 to July 2020, Yimou illegally bought and sold 29 foreign exchange transactions through underground banks, with a total amount of US$300,000.

  This behavior violated Article 30 of the Measures for the Administration of Individual Foreign Exchange and constituted an illegal transaction of foreign exchange.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 245,000 was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

Case 10: The case of illegal foreign exchange trading by an overseas individual XU

  From June to July 2020, XU illegally bought and sold 3 foreign exchange transactions through underground banks, with a total amount of US$346,000.

  This act violated Article 32 of the Regulations on the Administration of Foreign Exchange Settlement, Sale and Payment, and constituted an illegal foreign exchange transaction.

According to Article 45 of the Regulations on Foreign Exchange Administration, a fine of RMB 244,000 was imposed.

Penalty information is included in the credit information system of the People's Bank of China.

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