Money laundering refers to the act of knowingly depositing illegal income and drug crimes, organized crimes of underworld nature, crimes of corruption and bribery, crimes of terrorist activities, crimes of smuggling, crimes of disrupting financial management order, and crimes of financial fraud into financial institutions, investing or circulating on the market, so as to cover up and conceal its source and nature and legalize illegal income.
The crime of money laundering not only violates the financial order, but also violates the social and economic management order, and also violates the normal financial management activities of the state and the relevant provisions on foreign exchange management.
The crime of money laundering is objectively manifested as:
1. Actor provides fund account. It refers to opening a bank account for criminals or providing the existing bank account for criminals to use;
2. The actor helps to convert the property into cash or financial instruments. It includes not only converting physical objects into cash or financial bills, but also converting cash into financial bills or financial bills into cash, and also converting such cash and RMB into cash dollars and converting bills issued by foreign financial institutions into bills issued by Chinese financial institutions;
3. The actor assists the transfer of funds through transfer settlement;
4. The actor helps to remit money abroad;
5. The perpetrator conceals or disguises the illegal gains of the crime, as well as the source and nature of the gains. It refers to all the methods he used to cover up and conceal the illegal and criminal gains, their nature and sources, and transfer the criminal gains.
laws and regulations
Criminal law of the people's Republic of China
Article 191 Whoever commits any of the following acts in order to conceal or conceal the income of drug crimes, organized crimes of underworld nature, crimes of terrorist activities, crimes of smuggling, crimes of corruption and bribery, crimes of disrupting the order of financial management and crimes of financial fraud, shall have his income confiscated and be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also, or shall only, be fined; If the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined:
(1) Providing capital accounts;
(2) Converting property into cash, financial bills or securities;
(3) Transferring funds by transfer or other payment and settlement methods;
(4) Cross-border transfer of assets;
(5) concealing or disguising the source and nature of the proceeds of crime and their proceeds by other means.
If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.