Legal analysis: 1. Buying and selling foreign exchange in designated foreign exchange banks, China Foreign Exchange Trading Center and its sub-centers and foreign exchange adjustment centers without the approval of the foreign exchange bureau;

2. Buying and selling foreign exchange in disguised form by borrowing foreign exchange for RMB or borrowing RMB for foreign exchange;

3. Buying and selling foreign exchange and foreign exchange rights and interests for the purpose of obtaining illegal profits.

Legal basis: People's Republic of China (PRC) Criminal Law.

Article 192 Whoever illegally raises funds by fraudulent means for the purpose of illegal possession, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than seven years or life imprisonment, and shall also be fined or confiscated.

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.

Article 266 Whoever defrauds public or private property in a relatively large amount shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also, or shall only, be fined; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and shall also be fined; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined or confiscated. Where there are other provisions in this Law, such provisions shall prevail.