Interpretation of Typical Cases - Legal Risks of Illegal Activities in the forex Field

The Supreme People's Procuratorate and the State Administration of Foreign Exchange jointly released a series of typical cases in the forex field, clarifying the legal consequences of illegal currency exchange and other behaviors. Through these cases, we can see:

Risks of Providing Bank Account Assistance for Receiving Payments

Case studies show that even if one only helps to collect payments according to others' instructions, it may constitute the crime of illegal operation. Even if there is no direct involvement in forex trading, providing account assistance itself carries legal risks.

Some people may think that simply providing an account without participating in specific operations is not a problem, but in fact, this behavior may also be deemed criminal. Even if it is for the purpose of helping, providing an account for friends and relatives to receive payments may face criminal penalties.

Introduction to the Risks of Forex Channels

Financial practitioners should pay special attention that even introducing forex exchange channels to clients without charge may face dual penalties - both criminal risks and the possibility of being imposed with hefty administrative fines.

Practitioners in industries such as insurance, immigration, and overseas real estate must be particularly vigilant in maintaining client relationships and should not get involved in illegal forex exchange activities for various reasons.

Risks of Foreign Exchange Business Overseas

Chinese citizens may still face domestic criminal risks even when conducting legal forex business abroad, as long as it involves domestic funds. China's criminal law has jurisdiction over citizens' overseas actions, and one cannot evade legal responsibility by claiming to be abroad.

Risks of Selling Legal Forex

Even when selling legally obtained forex, there may still be legal risks. Although there are cases where the prosecution believes there is insufficient evidence and does not proceed with charges, there may still be significant administrative penalties. Personnel from trade companies and related entities should be cautious and avoid engaging in such activities lightly.

Conclusion

Illegal forex activities may lead to serious economic consequences. As law enforcement intensifies, the penalties for related illegal activities may become more severe. Individuals and businesses should conduct forex transactions through legal channels and should not harbor any false hopes.