China News Service, August 9th. According to the website of the Chinese Embassy in Bulgaria, recently, the domestic bank accounts of individual Chinese citizens in insurance have been frozen by the public security organs in accordance with the law.

The main reason is that it handles remittance business through underground banks or remittance companies that are not recognized by the Chinese regulatory authorities. Some Chinese citizens in insurance use their own or relatives’ domestic accounts to carry out remittances and transfer activities for others, and draw commissions from them.

These behaviors may not only cause economic losses to the parties, but may also result in poor personal credit records, being included in the money laundering blacklist by the national regulatory authority, and even constitute crimes.

  Relevant laws of our country clearly stipulate that companies that provide remittance and exchange services illegally engage in payment and settlement of funds or buy and sell foreign exchange, which constitutes the crime of illegal business operations.

The conduct of remittances or foreign exchange transactions through such company accounts objectively constitutes a fact of participation in criminal activities.

In handling cases of telecommunications network fraud and online gambling, the public security organs cracked down on the capital chains of underground banks and criminal groups, and frozen the accounts involved in the case in accordance with the law.

Some citizens are greedy for "high exchange rates" and remit money domestically through illegal channels, which often causes their receiving accounts to be linked to the money laundering chain of criminal groups and become accounts involved in the case.

  The Embassy in Bulgaria reminded Chinese citizens in Bulgaria to further enhance their legal awareness and avoid risks through legal means.

The first is to choose regular licensed commercial banks recognized by China and Bulgaria for remittances, and do not choose underground banks or institutions and individuals that engage in illegal fund payment and settlement businesses for the "high exchange rate".

The second is to properly keep personal domestic collection accounts, and do not be tempted by "commissions" and "commissions" to provide personal accounts to others for remittances.

Third, if the account is frozen, please contact the bank of the receiving account and the case-handling department in time, provide proof of legal income sources and other materials as required, and actively cooperate with the police in the investigation.