China News Service, Beijing, December 12 (Reporter Zhang Su Xia Bin) China's Supreme People's Procuratorate and the State Administration of Foreign Exchange released typical cases of punishing foreign exchange-related violations and crimes on the 27th. There are a total of 27 cases in this batch, mainly involving cross-border illegal foreign exchange trading cases.
Cross-border illegal trading of foreign exchange is one of the typical manifestations of illegal foreign exchange trading. In such cases, there is generally no physical cross-border transfer between RMB and foreign currency, and on the surface, funds circulate in a one-way manner at home and abroad, which is in essence a disguised act of buying and selling foreign exchange.
When analyzing the characteristics of this type of crime, the person in charge of the Fourth Procuratorate of the Supreme People's Procuratorate said that the cross-border means of extortion are complex and diverse, and they are closely linked to some upstream crimes. To this end, the relevant departments have increased cooperation, correctly grasped the standard of proof for criminal cases of illegal foreign exchange trading, and effectively increased the intensity of punishment for the entire chain of illegal foreign exchange trading crimes.
Strengthening the connection between executions and severely punishing violations and crimes is reflected in the cases released by the two departments this time. For example, in the "Zhao et al. Illegal Business Case", the procuratorate accurately determined the facts of the crime related to virtual currency transactions, and finally sentenced the criminals to 11 years in prison.
"In the past two years, the State Administration of Foreign Exchange has cooperated with the judicial authorities to crack down on more than 200 cases of foreign exchange violations and crimes such as illegal business operations, and has administratively investigated and dealt with more than 1100,15 cases of illegal foreign exchange trading, foreign exchange evasion, and fraudulent purchase of foreign exchange, and fined and confiscated about <>.<> billion yuan, effectively maintaining the benign order of the foreign exchange market." The head of the Management Inspection Department of the State Administration of Foreign Exchange said.
At present, foreign exchange violations and crimes are showing new trends and characteristics. On the one hand, the cross-border transfer of funds is more hidden, and the illegal trading of foreign exchange by underground banks is more likely to adopt the cross-border knock-on mode; On the other hand, capital transactions are faster and more complex, and new payment methods such as virtual currencies have increased the concealment of fund transfers.
The relevant responsible persons of the Supreme People's Procuratorate and the State Administration of Foreign Exchange said that they will further strengthen law enforcement and judicial cooperation, improve law enforcement and judicial standards, and punish all kinds of foreign exchange violations and crimes in accordance with the law. (ENDS)