White Collar Crime, China updates

 
Enhanced regulation of illegal payment and settlement business and FX trading
Jingtian & Gongcheng
  • China
  • 15 April 2019

Criminal activities such as illegal payment and settlement business and FX trading have become increasingly rampant in recent years. Although these activities have been classified as business crimes in various laws and regulations, the applicable penalties have been unclear. However, new interpretations of the Supreme People's Court and the Supreme People's Procuratorate set out the applicable convictions and penalties for illegal business operations involving FX trading and payment and settlement business.

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