Staff reporter The State Administration of Foreign Exchange and the Supreme People's Court recently released a set of typical cases aimed at
Staff reporter
The State Administration of Foreign Exchange and the Supreme People’s Court recently released a set of typical cases aimed at curbing illegal forex activities.
SAFE pointed out that current illegal forex activity trends and characteristics are showing new features.
Cross-border fund transfers are becoming more covert as illegal transactions by underground banks increasingly utilize matched orders, involving fund circulation both domestically and internationally.
Transactions are now faster and more complex, with convenient and efficient payment and settlement tools like online payments.
Individuals use multiple banks and multilayered accounts to launder, disperse, and aggregate funds.
Additionally, new payment methods like virtual currencies have increased the concealment of fund transfers.
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