I. Definition of illegal exchange of foreign exchange
Illegal foreign exchange mainly includes buying and selling foreign exchange privately, buying and selling foreign exchange in disguise, buying and selling foreign exchange in reverse or illegally introducing and buying foreign exchange. These acts violate the relevant provisions of China's foreign exchange management and disrupt the normal order of the foreign exchange market.
Second, the conviction criteria for illegal foreign exchange
According to the Criminal Law of People's Republic of China (PRC) and relevant judicial interpretations, if illegal exchange of foreign exchange constitutes a crime, a comprehensive judgment should be made mainly based on the amount involved, the seriousness of the circumstances and the subjective malignancy of the perpetrator. Generally speaking, if the amount involved is large, the circumstances are bad or the crime is committed many times, it is easier to be identified as a criminal act.
Third, penalties for illegal exchange of foreign exchange.
For illegal exchange of foreign exchange, China's laws stipulate severe punishment measures. According to the Regulations of People's Republic of China (PRC) on Foreign Exchange Control and other relevant laws and regulations, once the illegal exchange of foreign exchange is verified, the perpetrator will face administrative penalties, including fines and confiscation of illegal income. At the same time, if the act constitutes a crime, criminal responsibility will be investigated according to law, and penalties such as fixed-term imprisonment and criminal detention may be faced.
In addition, in order to crack down on illegal foreign exchange, China has also strengthened the supervision of the foreign exchange market, established a joint law enforcement mechanism across departments and regions, and intensified the investigation and punishment of illegal foreign exchange.
To sum up:
Illegal exchange of foreign exchange seriously disrupts the order of the foreign exchange market and endangers the national economic security. China's laws strictly define and punish illegal exchange of foreign exchange, and will severely crack down on illegal exchange of foreign exchange involving a large amount of money and bad circumstances. At the same time, strengthening the supervision and law enforcement of the foreign exchange market is also an important means to effectively curb illegal foreign exchange.
Legal basis:
Criminal law of the people's Republic of China
Article 190 stipulates:
Companies, enterprises or other units that, in violation of state regulations, deposit foreign exchange abroad without authorization, or illegally transfer domestic foreign exchange abroad, with a relatively large amount, shall be fined, and the directly responsible personnel in charge and other directly responsible personnel shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years.
Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Control
Article 45 provides that:
Buying and selling foreign exchange without permission, buying and selling foreign exchange in disguised form, buying and selling foreign exchange in reverse or illegally introducing the purchase and sale of foreign exchange in a large amount shall be given a warning, the illegal income shall be confiscated and a fine of less than 30% of the illegal foreign exchange amount shall be imposed; If the circumstances are serious, a fine of not less than 30% of the illegal foreign exchange amount shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.