What are the penalties for illegally transferring domestic foreign exchange overseas?

The more foreign exchange reserves a country has, the stronger its ability to resist external economic risks. Our country’s foreign exchange reserves are very large. In order to ensure the safety of foreign exchange, foreign exchange is managed. So what are the penalties for illegally transferring domestic foreign exchange overseas? The following is determined by law The editor of Savior.com will answer this question for you, hoping to help you in a substantial sense.

How to punish illegal transfer of domestic foreign exchange overseas

According to relevant legal provisions , who violates legal provisions and transfers domestic foreign exchange abroad, the foreign exchange management authority shall order the foreign exchange to be transferred back within a time limit and impose a fine, which constitutes a crime and shall be subject to criminal liability.

"Foreign Exchange Administration Regulations of the People's Republic of China"

Violation of Article 39 Anyone who transfers domestic foreign exchange overseas, or transfers domestic capital overseas by deceptive means and other acts of evading foreign exchange, shall be ordered by the foreign exchange management authority to transfer the foreign exchange back within a time limit and shall be fined not more than 30% of the amount of foreign exchange evaded; in serious cases, a fine of not more than 30% of the amount of foreign exchange evaded shall be imposed. % but not more than the equivalent amount; if a crime is constituted, criminal liability shall be pursued in accordance with the law.

The difference between foreign exchange margin and stock trading

1. The stock market can only be traded during specific hours during the day, usually 9:30-16:00, especially if you still have your own job. Then you will face a dilemma - either give up the job or quit the deal. Foreign exchange margin trading is available 24 hours a day, five days a week. You can invest in margin trading in your spare time at night.

2. There are hundreds of stocks in the stock market, so stock selection will be a difficult task. In the foreign exchange market, currency combinations are very limited, so you can focus on these currency combinations and quickly catch their pulse.

3. The trading volume of the story is much smaller than that of the foreign exchange market, and tens of thousands of non-professional investors affect the normal operation of the market, making it difficult to predict market movements. It gets harder. The foreign exchange market is the world's largest financial market and includes a large number of participants---banks, investment funds, companies and other financial institutions. Therefore, no matter how many individual investors participate in the foreign exchange market, theThe impact on price is minimal.

4. Another shortcoming of the stock market is that in a bear market, investors cannot work and can only be trapped. When the economy is booming, most investors can make profits, but economic development is alternating. When the party bosses decline and are replaced by recession, investors can only hold their positions. In the foreign exchange market, investors can make profits regardless of whether the economy is developing or declining. This is the short-selling mechanism of foreign exchange margin.

The above is the relevant knowledge compiled by the editor of Legal Savior Network for you. According to the relevant legal provisions and in violation of legal provisions, the domestic foreign exchange will be transferred overseas. The foreign exchange management authority ordered the foreign exchange to be transferred back within a time limit and imposed a fine, which constituted a crime and was subject to criminal liability. If readers encounter other problems, they can come to the Legal Savior website to find a professional team of lawyers for consultation.